Dubbed as OCX RiskNet, the platform is targeted at brokers, investors and banks, allowing them to offset their risk safely and anonymously with other customers.
It is part of OCX (Open Currency Exchange), which brings together FX market participants into a single integrated network of liquidity, which includes OCX Streams and OCX Match. Participants on the platform match at the Integral FX Benchmark.
Harpal Sandhu, CEO, Integral Development Corp said, “For the first time, a truly diverse set of market participants can offset risk with natural interest from their peers, at the lowest possible transaction cost, safely and without adverse market impact.”
“OCX RiskNet helps make mid-point matching a feasible reality for market participants because it is integrated with their day-to-day execution and risk management workflows. As TCA continues to be a focus for market participants, the ability to match at mid-point with other natural interest brings a measurable benefit to our users.”
The data is available for free with the goal of improving transparency and increasing efficiencies for global FX market participants.
OCX RiskNet is combined with FX Cloud. According to the company, with this product it will be focusing more on risk management and transparent transactions with the other customers via FX Cloud.
