First P2P trade completed on Siege FX

Dark pool aims to match algo orders among its 30 buy-side clients

dark-pool

Buy-side currency traders have a new way to dodge market impact after the first live trade was executed this month on peer-to-peer matching service Siege FX.

The service aims to match a portion of buy-side foreign exchange orders against each other once they have been sliced up by execution algorithms. The question is whether the service can attract enough buy-side clients to deliver those matches quickly and predictably.

“We want to be attractive to the buy side and have their orders passing

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