BidFX, a trading platform and provider of electronic foreign exchange (forex) trading solutions, announced this Thursday that it has partnered with Nomura, a large global investment bank.
Under the agreement, Nomura has made its five forex algorithmic strategies, collectively known as the Tsuwamono Series, available on the BidFX Execution Management System (EMs) platform. Therefore, users of the platform can now access the trading strategies.
According to the statement published by BidFX, each of Nomura’s FX Algo strategies offer a range of flexibility on executions, which are suited to clients differing requirements and trading preferences.
Commenting on the partnership, Ian Daniels, Nomura Head of eFX Distribution EMEA & Americas, said: “Nomura’s FX algorithms provide substantial benefits to clients, with high levels of trading flexibility. We’re pleased that clients can now find our algorithms on BidFX.”
BidFX sees increased interest in Algo trading
In recent months, BidFX, which is a subsidiary of TradingScreen, has been ramping up its offering by collaborating with a number of financial firms. Earlier this month, as FortuneZ reported, RBC Capital Markets added its Algo suite to the company’s EMS platform.
The partnership was a result of BidFX expanding into the institutional buy-side. During this expansion, the company has seen an increased interest in Algo trading, which also explains its collaboration with Nomura.
In September, Jump Liquidity also teamed up with the firm, by becoming a liquidity provider on its EMS platform. The motivation for Jump Liquidity to join BidFX was to maintain its status as one of the largest market makers in FX central limit order books and ECNs.
Speaking on the collaboration, Roger Lee, BidFX Head of EMEA Sales, added: “BidFX has had a long standing relationship with Nomura and it’s exciting to see Nomura extending their integration with BidFX through the addition of their five FX algorithmic strategies.”
“This reflects the tight relationship that our firms share on a global basis and will benefit our existing mutual institutional FX clients with whom we are both engaged.”