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FX Trading in Asia Pacific: Q&A With Vinay Trivedi (Part 1)

Traders Magazine Online News, March 29, 2017

Vinay Trivedi

With the growth of electronic trading in FX markets, Asia Pacific has become one of the fastest growing regions for currency trading.

As regulators around the globe focus on best execution, buy-side firms in Asia are increasingly taking control of their orders and interacting with liquidity providers through execution management systems. The FX component of FlexTrade’s multi-asset trading platform provides institutions with access to 75 banks, ECNs and exchanges for trading spot, forwards, NDFs and swaps via a request for quote or request for stream method.

Vinay Trivedi

Through such innovations as FX workflow management – netting, splitting, bunching tickets, pre/post-trade allocations, PM/Fund allocations and advanced features such as FX-basket trading, FlexTrade has become one of the innovators in FX trading capabilities in Asia Pacific.

Vinay Trivedi, Senior Vice President, Strategic Initiatives & Head of FX Sales, APAC at FlexTrade Systems, discusses trends in FX markets and trading technology, specifically how the buy side is using aggregation tools and algorithmic trading through the execution management system (EMS) to seek the best price in Asian currency markets.

Based in Singapore, Trivedi joined FlexTrade in 2014, having previously worked in institutional sales with Integral Development Corp. for about three years. Prior to that, Trivedi was an FX options trader for five years. He began his career at the Bank of Bahrain & Kuwait in India as an FX/interest rate trader in Treasuries, and then moved to Reliance Industries Limited, where he was part of a four-person team running a multi-billion dollar FX options hedge book for crude oil imports/exports.

Q: What trends in FX trading technology, such as liquidity aggregation, are you seeing in Asia?

TrIvedi: In terms of FX, the hedge fund space has mainly been interested in aggregation. Traditionally, it was to trade with single bank portals or voice. Now, desktop real estate is a big problem for the traders. They just want to aggregate the liquidity into one box, and prefer to use one of two aggregators with a single back portal as a back- up option. Or, they may still want to go to voice just to gather some market information or clear some big size orders.

By using FX aggregators, they don’t have to eyeball which broker/liquidity provider has the best price to offer. This is how FX is different from equities or futures, and where market data and trading is exchange-driven and quite centralized.

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