FairXchange welcomes Saxo Bank to its data-driven ecosystem of liquidity providers

Saxo Bank recently revealed that it has joined the ever-expanding ecosystem of FairXchange. The move will allow it to enhance and improve its data-driven dialogue with Liquidity Providers (LPs).

Moving forward, FairXchange will provide the bank with its own liquidity management platform, known as Horizon. Meanwhile, Saxo Bank will invest in the early adoption of data-driven approaches, which is part of its effort to use collaborative efforts in the liquidity management arena to maximize opportunities.

Off to a strong start

FairXchange’s CEO and founder, Guy Hopkins, commented on the collaboration of the two entities, stating that FairXchange is delighted to welcome Saxo Bank to its network. He also praised the bank, saying that they were among the very first institutions who have embraced data-driven dialogue with their Liquidity Providers.

Hopkins added that the bank always had a deep understanding of why is it important to closely collaborate with LPs, which allowed it to source the best possible liquidity. With that being the case, he repeated that FairXchange is delighted to assist the bank in continuing that spirit of collaboration moving forward and to work with it to help it maximize opportunities for everyone, including the bank’s LPs, its clients, and also the bank itself.

Saxo Bank’s James Dewdney-Herbert also commented on the bank’s move to enter FairXchange’s network, stating that the relationship between the two is off to a very strong start. He noted that the bank has already noted a material uplift in engagement from its trusted liquidity partners from the moment its deal with FairXchange went live.

This is expected to lead to greater profitability for everyone involved, and ultimately bring increased liquidity to the bank’s clients.

FairXchange soon to be acquired by United Fintech

FairXchange is a data science company that is specializing in foreign exchange markets. It was founded by Hopkins in 2016. Prior to launching the company, Hopkins was a Bloomberg veteran, as well as the head of forex at Morgan Stanley.

Under his guidance, the company specialized in microstructural analysis of financial markets, allowing it to offer greater transparency regarding execution performance.

To date, the company has developed no affiliation with any trading venues or liquidity providers. Meanwhile, it became a preferred choice of an extensive client base, which includes numerous global financial institutions.

The company also created its own analytical product — the previously mentioned platform called Horizon, which analyzes any relevant transaction, pricing data, and alike, in order to facilitate mutually profitable data-driven discussion between liquidity providers and liquidity consumers.

Now, however, the company might end up being acquired by United Fintech. Previously, United acquired a minority stake of 25% in FairXchange back in 2021. However, even then, it had the intention to fully acquire the company over the next several years. The process was planned out as a multi-stage takeover which has yet to be completed.