360T and Lucera Form Strategic Alliance for Efficient FX Swaps Trading

360T, Deutsche Börse Group's powerhouse for FX, announced on Wednesday (May 29) that it has integrated its Swaps User Network (SUN) with Lucera, a leading technology service provider delivering performant, secure and scalable solutions in financial services industry. This integration is part of 360T's strategy to expand its platform to existing Lucera clients.

According to the announcement, sell-side firms can utilize 360T SUN to conduct grey-book risk exchange at mid-market and streamline their FX Swaps trading operations, with the support of an indicative streaming mid-rate from 360T's Swaps Data Feed (SDF). Additionally, the platform allows both GUI and API users to post resting bid and offer orders, using a choice of different automated credit models that remove the risk and latency of soft matching.

Robin Nicholas, Head of Swap Product at 360T, commented: "The middleware connectivity between banks and 360T SUN through Lucera's API further enhances the value which the platform delivers to our global client base. This connection focuses on the electronic placement and management of orders in 360T SUN, paving the path to full automation, from pricing generation through to trade execution."

Peter Durkan, CEO at Lucera, added: "We are very excited to have integrated with 360T SUN, a genuinely one-of-a-kind FX Swaps network. Enabling any of our clients to automate their swaps workflow through direct order placement on SUN, this new integration adds unique functionality and value to the extensive Lucera ecosystem."

In addition to the integration with Lucera, 360T formed a partnership with Virtu Financial​, a leading global market maker, late last year to provide customers with integrated FX Trading Analysis and Transaction Cost Analysis services.