Press Room

From the Wall Street Letter, May 14, 2012


PFGBEST may add analytics for electronic FX options

— Jeanene Timberlake

Global futures brokerage PFGBEST may look to add more analytics to its recently introduced electronic trading capabilities for FX options, according to Bruce Pollack, director of the foreign exchange division.

The firm has just introduced the electronic trading technology for FX options this week through a licensing agreement with FX Bridge Technologies—the broker’s capabilities are based on FX Bridge Technologies’ platform that allows PFGBEST to expand its offering to include direct access to interbank liquidity, same-account trading and margining for spot FX and FX options.

The offering also includes modeling and optimization capabilities, and Pollack said clients that have been using the system are asking for more analytics. ‐We’re asking, ‘What else can we do for you, what else do you want?’, and we’re getting clear feedback [that they want] more analytics,‐ he said. ‐That is always the answer from a more sophisticated trader, and options are more sophisticated products. I think it will immediately push us back to building again and rolling out an enhancement.‐

He said that the electronic capabilities are intended to supplement the voice brokerage business and provide another option for traders looking for choice in execution.

Pollack noted that the decision to use a platform from FX Bridge was based in part on the firm’s belief that FX Bridge’s system could support ongoing regulatory requirements the firm has under the National Futures Association, particularly as it relates to reporting requirements. He also noted that pricing transparency that the firm can get with the platform, and the fact that it fits into the PFGBEST more traditional brokerage model were also deciding factors.

Media Contact:
Patricia Campbell, PFGBEST, 312-775-3411

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