ITG’s execution management system will now give the buyside access to the foreign exchange market, allowing traders to use the firm’s EMS system to tap into State Street’s currency book of business.
In a bid to help its clients stay on its Triton EMS system for all their trading needs, the execution and research broker is tapping into the bank’s FX Connect system. The system will be fully operational sometime in the first quarter of 2015.
According to ITG, the Triton EMS will now be a multi-asset, broker-neutral system permissioned to tap into FX Connect, providing traders access to foreign exchange liquidity from more than 50 providers for spot, forward and swap transactions, as well as live interactive pricing and netting capability across multiple funds and currencies.
“The integration of Triton and FX Connect combines our strong equity and equity derivatives broker-neutral trading functionality with a platform for complex foreign exchange workflows, creating a powerful tool for institutional traders,” said Will Geyer, ITG managing director and head of platforms.
FX Connect is an end-to-end, multi-bank foreign exchange platform operated by State Street Global Exchange, which provides investment decision-making tools and services to institutional investor clients. Capabilities span the trade lifecycle and combine a technology-centric product suite to help clients more effectively generate returns, manage risk and optimize costs.