BidFX Fully Rolls Out XTX Markets Execution Algo on BidFX Algo Hub

BidFX, a leading cloud-based provider of electronic Forex trading solutions for institutions, announced that it has fully rolled out XTX Markets Execution Algo on BidFX Algo Hub.

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XTX Markets Execution Algo is an implementation shortfall execution algorithm that BidFX clients can now access as algorithmic trading in FX continues to increase. This algo went live on BidFX during 2020 in an initial targeted client roll-out and has the ability to reduce slippage to arrival price.

“XTX Markets is one of the largest market makers in the world and their expertise in market microstructure and the reduction of signalling and information leakage aligns with our client’s sophisticated requirements in regulatory, functional and execution strategies,”BidFX Chief Revenue Officer, John McGrath said.”We are happy to see increasing usage of this algo across our global client base in 2021 as well as making it available for clients to add to their Algo Wheel.”

Matt Clarke, Head of Distribution and Liquidity Management for EMEA at XTX Markets, commented: “We are pleased to expand our relationship with BidFX through their hosting of our execution algo and are delighted at the strong uptake from clients already. We look forward to continuing to give BidFX’s clients access to our low impact, market leading liquidity and further strengthening their algo platform as a result.”

Fazzaco earlier reported that BidFX has partnered with Commerzbank AG​, the leading bank for the German Mittelstand and a strong partner for corporate client groups, to make the bank's five FX algorithmic strategies available on the BidFX platform.