SGX FX has rolled out an updated version of its artificial intelligence (AI) tool aimed at assisting financial institutions in making more informed foreign exchange (FX) trading decisions.
The latest iteration of the tool, offered through its eFX and digital assets trading solutions provider, MaxxTrader, aims to streamline FX and digital assets price and trade data aggregation, providing stakeholders with automated actionable insights for quicker decision-making processes.
The tool analyzes extensive sets of FX data, encompassing trades, price streams, user activities, execution quality, market impact, and profitability. These data points are then translated into actionable insights presented through easy-to-understand stories and charts.
Vinay Trivedi, Chief Operating Officer at MaxxTrader, highlighted the efficiency gains: “FX traders can now access tangible insights such as changes in average hold times of the top 10 liquidity providers within seconds, eliminating the need for extensive manual report sifting.”
Trivedi also emphasized the tool’s ability to analyze client data insights alongside a bank’s internal data, enhancing client engagement and operational efficiency across FX trading activities. Whether it’s identifying shifts in client trading patterns or detecting rejected quotes on specific pairs, the tool empowers traders to address critical questions efficiently.
This innovation represents SGX FX’s ongoing commitment to technological advancements, aiming to assist banks and broker-dealers in managing risk effectively and achieving their trading objectives.
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