Media & Industry News

BidFX expands Algo Hub, adds State Street’s algorithms to platform

8 December 2020 BidFX

NEW YORK / LONDON/ SINGAPORE, 8 DECEMBER 2020 – BidFX, the leading cloud-based provider of electronic foreign exchange (FX) trading solutions, today announced that State Street, one of the world’s leading providers of financial services to institutional investors, has made its four FX algorithmic strategies available on the BidFX platform.

Clients can now access State Street’s FX Algo Suite directly on BidFX. Each strategy offers a wide range of flexibility on executions suited to client requirements and trading preferences.
Mary Leung, Global Head of Client Algos at State Street commented, “Heightened market volatility caused an unprecedented increase in FX algo volumes back in March, proving that algos are a valuable tool for clients to reduce the cost and increase the efficiency of their execution. With State Street’s unique franchise liquidity, our versatile suite of algorithms are designed to adapt to our clients’ execution style and philosophy, bringing unparalleled value to their performance. As part of our continued commitment to our clients, we’re delighted to expand our algo offering onto BidFX.”
Scott Gold, BidFX Head of Americas Sales commented, “BidFX has had a long-standing relationship with State Street and it’s exciting to see State Street extending their integration with BidFX through the addition of their four FX algorithmic strategies. Given the premium put on liquidity due to the current circumstances in global markets, our clients have been utilizing more algorithmic strategies to execute efficiently. With that in mind, having the addition of State Street’s algos will deliver further value to the BidFX client base. We therefore welcome State Street as the latest algo provider on BidFX”, he adds.