A DIVISION of Newry firm First Derivatives has announced a new deal with one of Japan’s largest banks.
Kx has been selected by the Sumitomo Mitsui Banking Corporation Corporation (SMBC) to build and manage its next generation foreign exchange platform.
First Derivatives, which previously owned part of the data analysis software developer, completed its 100 per cent takeover in 2018.
The multi-year agreement will see Kx work with SMBC and its clients to deliver a market-leading service to meet the needs of its dealers and customers alike.
Katsuhiko Yano, joint general manager of global markets engineering at SMBC said: "Kx was a natural choice for SMBC and is well placed to provide us with a flexible, scalable and high-performance technology that easily integrates with our existing systems and provides us with a foundation for our continued growth and expansion in e-FX trading.
“Kx’s ability to deliver a highly flexible platform supported by a local Japanese presence and global reach will enable us to take advantage of many new opportunities for Sumitomo Mitsui Banking Corporation and our clients."
Patrick Brazel, chief commercial officer of Kx added: "We are very pleased to partner with SMBC on this strategic initiative.
“Our e-FX solutions deliver rich functionality informed by many years of FX domain expertise and powered by the world-leading performance of Kx technology. This combination is delivering important benefits for our clients and establishing Kx as a key technology provider to the e-FX market.”
