BidFX Partners with Commerzbank AG for FX Algo Strategies Deployment

BidFX, a leading cloud-based provider of electronic Forex trading solutions for institutions, announced that it 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.

With this partnership, clients can now access Commerzbank's FX Algo Suite directly on BidFX. Each strategy offers a wide range of flexibility on executions suited to client requirements and trading preferences.  

Head of eTrading Services at Commerzbank, Nickolas Congdon, commented: "Commerzbank welcomes the opportunity to increase our electronic distribution of our FX orders service on BidFX. This allows us to continue to provide advanced technology, unique liquidity and analytics to our mutual clients."

BidFX Head of DACH Sales, Rory Sheen, commented: "It's exciting to see the continued growth of our global relationship with Commerzbank via the integration of their algo suite, which is largely being driven by our asset management clientele. As buyside market participants continue to increase their usage of FX algos to source the best liquidity and execute efficiently for their end investors, Commerzbank's algo strategies are a welcome addition to the BidFX algo hub."

Now a wholly owned subsidiary of the Singapore Exchange (SGX), market leading fintech firm BidFX specialises in liquidity aggregation across OTC and listed Forex products.

Fazzaco earlier reported that BidFX has released the company's half-yearly financial results​ for the first six months of 2020, revealing a pre-tax operating profit of £1.8 million for the period.