X-Change Monetary Entry (XFA), a division of Marex, and Genesis International, the low-code software improvement platform purpose-built for monetary markets organizations, have introduced a partnership to automate quoting for versatile trade choices (FLEX choices).
Known as FLEX-FA, the brand new platform streamlines intraday quoting of FLEX choices, enhancing the pace and attain of XFA’s brokerage providers. In contrast to conventional choices, the FLEX market doesn’t profit from a steady quote stream. Due to this fact, improvements like FLEX-FA, which standardize and automate request-for-quote (RFQ) processes, profit finish customers by rising liquidity and selling greatest value execution.
FLEX-FA was delivered in two months by Genesis.
“FLEX-FA allows us to supply excessive ranges of service to purchasers amid dramatic development in quantity and order complexity within the FLEX possibility market,” mentioned Andrew Geye, Head of Structured Merchandise at XFA. “In partnering with Genesis, now we have developed a scalable, fashionable RFQ answer which improves the value discovery course of by enhancing pace, accuracy and effectivity.”
“Working with innovators like XFA to automate key components of mounted revenue markets is a core energy of Genesis,” mentioned Stephen Murphy, CEO and co-founder of Genesis International. “Inbuilt solely two months, the FLEX-FA platform demonstrates that buying and selling operations for even probably the most bespoke monetary merchandise can migrate from spreadsheets and handbook processes to fashionable, enterprise high quality options which profit brokers, market makers and finish customers, alike.”
Central to FLEX-FA is a Genesis-built FIX message hub and RFQ workflow supervisor which allows XFA to electronically distribute RFQs to a number of market makers, who can return quotes by way of FIX again to XFA. The system aggregates RFQ responses and customised interfaces, designed by Genesis, make it simple for XFA to put orders with successful quotes.
“With FLEX-FA, we assist our prospects attain a broad viewers of liquidity suppliers, no matter how advanced the order may be. The platform additionally allows market makers to cite with confidence and accuracy, which is vital in an more and more lively market,” added Andrew Geye.
FLEX choices are index choices merchandise that provide the safety of an exchange-traded product whereas providing the author and purchaser the power to barter train type, expiration date, strike value and different variables within the possibility.
Marex, the guardian firm of XFA, can be a consumer of Genesis. Marex makes use of Commerce Allocation Supervisor, the modular, versatile, cross-asset class center workplace answer from Genesis.