Ontario Securities Commission (OSC) Exempts 360T’s UK MTF

In a significant development for the foreign exchange (FX) market in Canada, the Ontario Securities Commission (OSC) has granted an interim exemption to 360T‘s new UK-based Multilateral Trading Facility (MTF). This exemption holds strategic importance as it enables Canadian FX market participants to utilize the platform, which is slated for launch on January 2.

OSC Exempts UK MTF by 360T – What it Means?

The OSC’s granting of an interim exemption marks a crucial milestone for 360T, allowing its UK MTF to operate in Canada without meeting specific requirements set by the Ontario Securities Act. This move facilitates broader access for Canadian traders to various FX trading instruments, including Forwards, Swaps, Options, Non-Deliverable Forwards (NDFs), and Non-Deliverable Swaps (NDSs).

Impact on the Canadian FX Market Participants

The Ontario Securities Commission granted an interim exemption to 360T’s UK-based Multilateral Trading Facility (MTF), benefiting Canadian FX market participants.

Enhanced Categories of Trading Instruments

The exemption opens doors to an expanded array of trading instruments, including FX Forwards, Swaps, Options, Non-Deliverable Forwards (NDFs), and Non-Deliverable Swaps (NDSs). This diversification enables traders to tailor their strategies more precisely according to market conditions and specific needs.

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Easy Access to 360T’s Core Products

  • EMS (Execution Management System): Market participants benefit from a seamlessly integrated system for end-to-end workflow. 360T’s EMS provides a configurable solution for efficient trading for Real Money Managers and Corporate Treasurers.
  • SuperSonic Trader: Traders can access streaming Spot FX technology to optimize execution outcomes based on their preferences.
  • Bridge: The RFS Live Pricing GUI ensures a seamless experience for Request for Stream (RFS) Trading, designed in collaboration with FX execution desks for user-friendliness and high customizability.
  • Active Trading Suite: With offerings like 360TGTX for anonymous Spot trading, the Swaps orderbook 360T SUN (Swaps User Network), and Streaming NDFs, market participants can conduct FX transactions more efficiently, securely, and cost-effectively.

Regulatory Relief

The OSC’s interim exemption streamlines the trading process for Canadian entities by eliminating specific regulatory barriers. This regulatory relief enhances the overall efficiency and accessibility of the 360T platform for Canadian FX market participants.

Seamless Integration

OSC’s exemption aligns with the platform’s launch, ensuring seamless integration for Canadian traders. The approach helps a smooth transition for market participants to leverage benefits provided by 360T’s UK MTF from the beginning.

About 360T

360T is an innovative provider of web-based trading technology for foreign exchange. 360T provides services for OTC financial instruments, FX, and interest rate derivatives throughout the trading workflow.

Beyond optimizing execution, the platform significantly reduces operational costs and risks while enhancing compliance and transparency. Users can access on-exchange and cleared FX products alongside OTC FX, choosing the best execution and settlement models.

360T operates as a SaaS platform and is regulated by the German Financial Authority. It serves more than 2,400 clients worldwide, including corporate treasuries, institutional asset managers, hedge funds, and central banks. With a global presence in 75 countries, 360T continues to be an industry leader in innovative and reliable trading solutions.

What is UK MTF?

The UK Multilateral Trading Facility (MTF) by 360T is a novel addition to the platform’s offerings, providing diverse FX trading services to global market participants.

Way Forward

Deutsche Börse Group’s FX platform, 360T, has partnered with the OSC to expand its presence in the FX space. The platform serves clients in 75 countries and is exempt from Canadian regulations, allowing it to offer a broader range of services. The partnership with Virtu Financial aims to enhance the FX trading experience for clients.

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