BidFX, an SGX Group company, is a leading cloud-based provider of eFX trading solutions for global buyside institutions. The company delivers customized liquidity in all FX products from partner banks, non-banks, and ECNs, providing broker-neutral and cutting-edge execution management services. BidFX also offers a complete suite of negotiation protocols and a hub to the algo suites of all major banks featuring the best execution capabilities.

In addition, BidFX’s liquidity provision analytics (LPA) and advanced TCA solutions feature pre-trade predictive models, in-trade benchmarking, and post-trade synopses.

“We build the foreign exchange trading technology solutions that truly innovate the market,” says John McGrath, the chief revenue officer of BidFX.

Prior to joining BidFX, McGrath was the sales manager for Institutional Business UK & Ireland at 360T and, before that, the head of EMEA Buyside E-Trading Sales at Bloomberg LP—a global business and financial news service.

Since its founding in 2017, BidFX offers key services such as customized liquidity via direct pricing sessions, hi-touch/low-touch execution models full automation where requested, and the ability to trade across protocols (Streaming, RFQ, Voice) and interfaces (GUI, Mobile, API). The company’s Algo Hub boasts connections to 22 Liquidity Providers. Clients can use the connection as a real hub to the market.

BidFX’s innovation was also demonstrated when they were the first Execution Management System (EMS) to launch an FX Algo Wheel – that allows users to automate their Algo orders via randomization rules like Round Robin and Weighted Averages. This ability is ultimately in line with global regulatory requirements as well.

Our Liquidity Provision Analytics (LPA) solution ultimately aims to strengthen the existing relationships between the buy and sell sides. We want to empower all our clients to trade in the most well-informed fashion.

The company was the first to coin the term, Liquidity Provision Analytics, providing LPA and advanced TCA capabilities such that clients can manage and improve their liquidity.

BidFX’s trading solutions are particularly well-received by the buyside community and continue to gain strong traction with institutional clients like hedge funds, asset managers, and sovereign wealth funds. In terms of deal types, the company has experienced massive growth in the NDF space recently where they are the number 1 multi dealer platform by market share. Building on its success, BidFX looks to continually enhance its data and analytics offering as well.

BidFX consistently strives to innovate, unafraid to build and trial new ideas. It firmly believes in the mantra – “We can always find a better solution.”

“We pride ourselves on an extremely high level of customer service and quick-to-market development timelines,” says McGrath.