Russell Investments, Integral Launch FX Network

New platform designed to offer superior netting for institutions

seattle-ferry
Russell Investments is based in Seattle, Wash., above

Using Integral's InvestorFX technology, the new RFX Network will help institutional investors including asset managers obtain currency exchange rates that seek to minimize tracking error with respect to the fix rates published by benchmark service WM/Reuters.

The network automates execution of complex trade lists by combining internal netting within an investor’s trading portfolio with external matching amongst the larger buy-side community. Two technology solutions developed by Integral — powerful internal netting capabilities and an FX facility that matches customer interests at the midrate — will help deliver best execution as part of the service.

Users can place orders electronically into RFX Network or have Russell process them on their behalf. Fixing orders are matched with other investors, while any unmatched residual is executed by a trading algorithm that mimics the fixing process to minimize tracking error.

“RFX Network provides institutional investors with a revolutionary way to transact their benchmark orders and improve execution at fixing times. This new offering follows a long tradition of innovation from our global implementation team, providing clients and the broader institutional investor community with a comprehensive solution," says Joe Hoffman, director of equity derivatives and foreign exchange at Russell Investments.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.

Banks seemingly build more than buy, but why?

Waters Wrap: A new report states that banks are increasingly enticed by the idea of building systems in-house, versus being locked into a long-term vendor contract. Anthony explores the reason for this shift.

Pushing the boundaries of TCA

S&P Global Market Intelligence finished runner-up in the perennially competitive TCA system provider category of the Waters Rankings 2024. Michael Richter, global head of trading analytics, discusses the TCA challenges facing the firm’s buy- and sell…

Most read articles loading...

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here