London-based SuperDerivatives has gone live with its multi-bank, multi-asset trading platform SDeX.
Connected to SuperDerivatives' front-office platform SDX, SDeX allows users to request tradable prices from all of their counterparties on any trade they can price in SDX, regardless of its complexity, and execute at the best price. Having priced the potential trade, from the simple vanilla swap to complex multi-legged structures, in SDX, users can get live quotes on SDeX, and negotiate, trade and book all the trades into SDeX with a few clicks.
SDeX supports all asset classes and is actively used for base and precious metals, FX, oil products, freight, credit derivatives and equity derivatives. Interest rates derivatives and other assets are due to become active later this year.
The platform is supported by 26 market making banks. It covers the entire workflow, including pre-trade analysis, trade execution at the best price available in the market and post-trade confirmation and reporting.
"Users really like having a single screen allowing them to reach all of their banks with one click. It ensures compliance with Mifid II and is under application to become a SEF," says David Collins, head of strategy at SuperDerivatives. "SDeX preserves the relationship between market makers and market takers and makes the whole trade execution process for complex derivatives much simpler and less risky."
SuperDerivatives is currently preparing to connect SDeX to clearing services.
While at Sibos Toronto, James shares some interviews covering topics on blockchain, fintechs and cybersecurity.Subscribe to Weekly Wrap emails