Integral, the only provider of end-to-end electronic FX trading platforms, today announced OCX RiskNet™, a mid-point matching engine by which Integral’s customers can offset their risk safely and anonymously with other customers. OCX RiskNet has been in use with select customers for several months and is now made available to the broad FX community for all major currency pairs. It is seamlessly integrated with FX Cloud™, Integral’s market-leading trading platform.
OCX RiskNet is available to a broad and diverse customer base including banks, retail brokers and investment managers. “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,” said Harpal Sandhu, CEO, Integral Development Corp. “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.”
“Risk managers who run a B-book or warehouse risk face twin challenges: Fast moving FX prices and the costs of offsetting risk externally,” states Javier Paz, Senior Analyst at Aite Group. “OCX RiskNet breaks ground as a trusted platform, which helps expand the set of internalized liquidity that is available to banks and brokers who want to offset their FX positions quickly, anonymously, and cost effectively.”
“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,” Sandhu added.
Participants of OCX RiskNet match at the Integral FX Benchmark™, a continuous mid-point benchmark, generated based on research collaboration between Integral and Stanford University. OCX RiskNet is a part of OCX™, the Open Currency Exchange™, an execution venue that delivers a comprehensive suite of risk transfer models including OCX Streams™, liquidity from market makers and OCX Match™, a central limit order book.