Best FX technology provider: oneZero

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oneZero’s market-neutral technology has built its brand and business on the success of its award-winning modular trading technology solutions

With an Asia-Pacific (Apac) presence based around its regional headquarters in Sydney and development offices in Canberra, oneZero develops award-winning modular multi-asset trading technology solutions for the buy and sell sides. These are designed for advanced price formation, distribution, market risk management, quantitative trading, credit and behavioural risk management, and related analytics. The company’s systems process tens of millions of trades and billions of quote messages daily for clients, and ensures their price distribution and trading systems perform well over the spectrum of market conditions. Overall, oneZero is the leading provider of technology for over-the-counter (OTC) brokers in Apac, as underlined by its winning Best FX technology provider in the FX Markets Asia FX Awards 2023. 

Unlike a marketplace or venue, oneZero is a market-neutral technology provider that puts the client in full control of how clients’ risk and orders are managed. The company’s clients build their businesses around oneZero’s modular trading technology solutions. Unlike other aggregators, within oneZero, full time-series quote, trade and configuration information are recorded and analysed either by clients directly – through Data Source DNA – by third-party data analytics partner vendors or through oneZero’s own Data Source Insights products. 

With oneZero Insights, the results of that analysis are available to clients out of the box, along with corresponding recommendations on how to configure their Institutional Hub to achieve their franchise objectives. The Insights products’ analytics can be used to create bespoke pricing functions for oneZero’s clients’ own customers to segment their customer flow, deploy appropriate risk management and hedging strategies, and build suitable liquidity pools for externalised hedges.

Alex Neo, oneZero
Alex Neo, oneZero

To this end, oneZero works with its clients to analyse the results to find ways to make their businesses more efficient. 

The full oneZero trading solution comprises the Hub, EcoSystem and Data Source. Hubs are robust software-as-a-service price and risk management systems that include customisable real-time pricing, market risk management, credit management and trading. Additionally, Hubs aggregate custom-tailored streams from OTC liquidity providers and market data from listed venues across asset classes. This allows for the construction of purpose-built liquidity pools that are unique for pricing and market risk management. This pricing is precisely tailored for each customer segment. oneZero’s clients can also use the programmable algorithmic pricing and risk management modules to run their own algorithms within their Hubs.

In parallel with this, oneZero’s EcoSystem is used for market access, in which buy- and sell-side firms come together to consume and distribute multi-asset class liquidity. Interfaces and connectivity are provided via a secure, ultra-low latency network to key partners. Meanwhile, Data Source is a cloud-based business intelligence toolkit that unlocks oneZero’s clients’ trade, quote and quote-derivative data. This data can be transformed into advanced analytics that facilitate relationships between consumers and providers of liquidity. The data is then fed back into the system, ensuring optimum performance of the Hub. 

Underlying all the company’s products, systems and services is a client service capability focused on providing excellence. oneZero’s global operations team provides client support 24/7, with follow-the-sun coverage in Apac, Europe and the US. Additionally, oneZero is certified to the ISO 27001 standard of information security management systems.

The past 12 months have seen oneZero build even further on these award-winning capabilities. The company has developed additional market risk management frameworks, including the segregation of risk by instrument or asset class using portfolios. This allows oneZero’s clients to manage and hedge risk across various derivatives and even across markets. 

The company has also developed the ability to view system performance and configuration metrics, with microsecond-level insights and unparalleled transparency into operating metrics. Additionally, oneZero has developed new analytics capabilities, including Top of book maker comparison and Maker pool replay reports, and the ability to visualise every quote at tick level. New dashboards include Maker and taker stream classifications, and Maker pool analytics. With these tools, oneZero’s clients are able to optimise the profitability of their businesses on the back of the company’s real-time technology. Major additions were also made to the vast network of liquidity providers and venues within oneZero’s EcoSystem, including Cboe FX and State Street.

“One of the key drivers of success in the region over the years has been our ability to build and scale new features, enhancements and innovate new products,” says oneZero’s executive vice-president, Alex Neo. “This has been on the back of client feedback, requests, demand and drive to be more efficient and increase yield – such items include Data Source, the capability to band or deplete liquidity, advanced order routing and more. 

“A key difference oneZero presents over our competitors in the region is also our commitment to local presence out of our fully staffed Sydney office.” 

oneZero was voted Best FX technology provider at the FX Markets Asia FX Awards 2023.

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