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April 20, 2021 - SGX owned cloud FX trading solutions provider BidFX has announced today announced that Commerzbank AG has made its five FX algorithmic strategies available on the BidFX platform.
Clients can now access Commerzbank’s FX Algo Suite directly on BidFX. Each strategy offers a wide range of flexibility on executions suited to client requirements and trading preferences. Commerzbank is the leading bank for the German Mittelstand and a strong partner for corporate and institutional clients and is therefore a good fit for the type of clients using BidFX.
Head of eTrading Services at Commerzbank, Nickolas Congdon, commented: “Commerzbank welcomes the opportunity to increase our electronic distribution of our FX orders service on BidFX. This allows us to continue to provide advanced technology, unique liquidity and analytics to our mutual clients”.
BidFX Head of DACH Sales, Rory Sheen, commented: “It’s exciting to see the continued growth of our global relationship with Commerzbank via the integration of their algo suite, which is largely being driven by our asset management clientele. As buyside market participants continue to increase their usage of FX algos to source the best liquidity and execute efficiently for their end investors, Commerzbank’s algo strategies are a welcome addition to the BidFX algo hub”, he adds.
In December, BidFX added State Street's Algo Suite, following Nomura's Tsuwamono Series of 5 Algos and RBC's full range of Algos both added in October 2019.
Now a wholly owned subsidiary of the Singapore Exchange (SGX), market leading fintech firm BidFX specialises in liquidity aggregation across OTC and listed foreign exchange products.
