HSBC has announced the launch of the HSBC FX floating e-liquidity order that allows institutional clients to place a floating order with HSBC’s principal liquidity via an API.
As part of HSBC’s Global Intermediary Services offering, the new HSBC FX floating e-liquidity order capability enables clients to make liquidity to HSBC and transact electronically on an anonymous basis with the bank’s principal FX desk, across 20-plus direct currency pairs and non-deliverable forwards. This allows clients to work orders within HSBC’s bid-ask spread. Vivek Sarohia, Global Head of FX Alternative Execution Services, said: “Through the HSBC FX floating e-liquidity order, clients can be a liquidity maker without the cost challenges associated with technology, infrastructure and credit. They will have indirect access to HSBC’s overall internal FX inventory, while being able to capture spread, minimise their market footprint and mitigate the risk of adverse selection. It’s an alternative way for clients to trade FX by making liquidity to HSBC and offsetting risk with the bank’s inventory.”
