FXCM and SuperDerivatives (SD) have partnered to develop DCX, a multi-bank electronic trading platform for FX options that connects buy-side market takers with liquidity providers on a single global platform.

In contrast to other platforms that only support typical exchange-traded products, for the first time the DCX platform allows bespoke FX options to be traded electronically, following OTC market conventions.

The offering combines SD’s innovative and proven technology with FXCM’s global reach and network of price providers to deliver fast and efficient trading on superior pricing.

The intuitive web-based platform supports price discovery, negotiation and execution, all the way to option expiration, powered by the industry benchmark SD options pricing model.

DCX Enables:

• Users to trade both vanilla and bespoke instruments on G20 currency pairs and selected emerging markets
• Efficient price discovery – the best bids and offers from all liquidity providers on one electronic trading venue
• Simultaneous delivery of fast and secure options pricing from multiple banks via APIs, and anonymous trading to level the playing field for all participants
• Simplification of the option expiry process with a revolutionary central settlement mechanism
• All trading and settlement services, including central counterparty clearing, to be carried out through a prime broker, thereby minimising operational and counterparty risk
• Multi-participant request-for-quote/request-for-stream (RFQ/RFS) trading sessions, with published market-depth pricing for all parties
• Market participants to meet with and exceed forthcoming regulatory requirements and satisfy the need for greater transparency and reporting.
• Compliance with MiFID best execution and the SEC’s RegNMS regulation by clearly displaying the full depth of the market, with post-trade compliance reports available

A comprehensive range of post-trade services is also available, including a built in option-exercise facility that provides customers with added life-cycle management capabilities and reduces operational risk.

The platform is underpinned by the same specialised high-performance technology and infrastructure that is at the core of SD’s award winning system, which was launched in 2000.

Find out how DCX can enhance your FX options business by requesting a free trial or speaking to our expert team.