Asia Awards 2023: Best execution management system (EMS) provider—360T

Overview

360T’s execution management system (EMS) is designed to help buy-side firms optimize their FX operations across the entire trade lifecycle, leading to increased efficiency, reduced operational risks and a detailed audit trail, while also streamlining execution so that traders can focus on higher value tasks. It helps solve the challenge of managing large FX flows with a stable headcount, while simultaneously achieving (and evidencing) best execution.

The solution

Through a combination of automation tools, unique datasets and analytics, 360T enables traders to automate the processing, netting, grouping, staging and execution of their FX trades so that information flows back and forth between the EMS and other applications in the technology stack. This enables better execution outcomes and reduces the risks inherent in manual processes.

Secret sauce

The rules-based automation tools in the 360T EMS are granular and bespoke. The firm, a subsidiary of Deutsche Börse, has integrated its data feeds―which are unique because they are directly integrated with banks’ pricing engines―into the EMS to act as a market midpoint and tolerance check when executing trades. 360T is committed to three technology releases per year, which means the EMS evolves in line with clients’ needs.

Recent milestones

• Released FX forward and NDF algos into the platform
• Added the ability for EMS users to trade base metals alongside their FX 
• Added WM/Refinitiv benchmarks as a market data feed 
• Introduced the new RFS 2.0 dashboard alongside a series of GUI enhancements 
• Partnered with Saphyre, a fintech firm specializing in AI technology, to streamline the opening of accounts in the EMS

Future objectives

• 360T is partnering with third-party transaction-costs analysis (TCA) providers to offer additional pre-trade analytics, assisting buy-side firms in making execution decisions. 
• It is launching a split risk fixing functionality, allowing users to automatically complete the forward points on their benchmark orders, resulting in cost savings. 
• 360T’s implementation of a new smart portfolio creation function will enhance buy-side firms’ netting capabilities within the EMS, reducing execution costs.

Why they won

360T wins the best execution management system (EMS) provider category in this year’s WatersTechnology Asia Awards, thanks to its execution management system simply known as EMS. It is a one-stop shop for institutional investors, featuring integrated market data sourced directly from banks’ pricing engines, and advanced execution tools supporting smart order routing requirements, allowing users to process, net, group, stage and execute their FX trades directly through the platform.