April 14, 2021 - Anonymous Peer-to-Peer (P2P) FX Spot netting provider Siege FX has announced today that it is now a routing destination on Bloomberg FX.

Bloomberg FX users can now route their FX spot orders directly to the Siege P2P liquidity pool and subsequently leverage FX prime broker communication and allocation management capabilities to achieve straight-through processing. Residual order amounts can be traded via the full spectrum of FX trading methods.

Alternatively, clients utilising algorithmic orders offered by a number of banks and non-bank liquidity providers on FX may be able to designate Siege as a routing destination, to allow the orders to be executed against Siege liquidity only or a combined liquidity pool which Siege is a part of.

Siege FX is available on a proprietary browser-based interface and via the FIX protocol. SiegeFX was established in 2017 and launched live trading in February, with the initial support of more than 30 leading financial institutions, including asset managers, pension funds, corporate treasuries and family offices.

Buy-side clients can access Siege via FIX API, its User Interface, certified market leading Execution Management Systems & FX Trading Platforms, as well as partner bank FX algorithms across multiple distribution venues.

Siege was established with the goal of creating a trusted environment where buy-side members have the ability to net offsetting orders before going to lit markets, reducing information leakage and minimising market impact. Siege's in-house technology identifies netting opportunities in a continuous real-time process and provides the oversight and surveillance functions agreed upon with the Siege buy-side community. Netted trades are materialised at the FCA-regulated New Change FX benchmark mid-rate and booked against central counterparties on the 360TGTX platform in partnership with Deutsche Börse.

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