Foreign exchange trading platform 360T has integrated Quantitative Brokers' (QB) FX algorithms into its trading system, expanding the algorithmic trading options available to institutional clients. Both firms operate as subsidiaries of Deutsche Börse Group.
Deutsche Börse Units Merge FX Algorithm Capabilities
In response to client demand, QB and 360T have partnered to bring QB's proven execution expertise to the Spot FX market. This expansion introduces FX-optimized versions of its flagship algorithms, “Bolt” and “Strobe”, designed specifically to account for the unique market structure and liquidity dynamics of FX trading.
Strobe FX enhances schedule-based execution for TWAP and VWAP benchmarks, while Bolt FX is an implementation shortfall algorithm built to minimize execution costs relative to arrival price.
“We are delighted to announce this partnership with QB and are confident that providing access to highly sophisticated FX algos from an independent specialist provider, as additional tools alongside the broad range of bank offered algos already available via 360T, will provide significant benefits to our diverse and global client base,” said Matt O’Hara, CEO of 360T Americas.
Market participants can now access these algorithms through 360T's infrastructure, utilizing either disclosed or anonymous liquidity pools. The system allows multiple counterparties to compete for execution, according to the companies.
QB, established in 2008, has primarily operated in futures, U.S. Treasury, and options markets. The firm developed the FX algorithms in response to client demand, adapting its existing technology for currency market structure and liquidity patterns.
"Quantitative Brokers is deeply committed to delivering enhanced value to our clients while expanding our reach to a broader spectrum of market participants,” said David Kalita, CEO of QB. “We are thrilled to bring our extensive expertise and proven track record in developing state-of-the-art execution algorithms to the FX market at a time when demand for such solutions is growing rapidly.”
360T Trading Volumes and Strategic Partnerships
The latest spot volume report from Finance Magnates indicates a rise in trading activity for 360T. In January, the platform's total trading volume increased by nearly $100 billion, reaching $760.8 billion. This led to an average daily volume (ADV) of $33 billion, marking a four-month high.
In contrast, Euronext FX’s Fastmatch experienced a slight decline in trading activity. Total volume decreased from $613 billion in the previous month to $609.9 billion, causing its ADV to drop to $27.7 billion. Despite this decline, the figure remains higher than the previous year’s average daily volume of $25 billion.
Beyond trading activity, 360T recently announced a partnership with Team Malizia, a sailing team led by skipper Boris Herrmann. As Herrmann prepares for the 2024–2025 Vendée Globe, a solo, non-stop round-the-world race, Team Malizia continues its commitment to climate action, scientific research, and ocean education. The team is also set to compete in The Ocean Race Europe 2025.
Additionally, in May 2024, 360T integrated its Swaps User Network (SUN) with Lucera, a technology service provider. This integration is intended to expand 360T’s reach among Lucera’s user base. The 360T SUN leverages an indicative streaming mid-rate from the platform’s Swaps Data Feed (SDF) to help sell-side firms facilitate grey-book risk exchange at mid-market rates.
