FX Week – LMRKTS shows SIMM FX reductions of 32-43%

Interdealer broker Tradition has completed a standard initial margin model (Simm) optimisation for non-deliverable forwards (NDFs) in partnership with LMRKTS, a New York-based fintech start-up offering multilateral foreign exchange compression services. Earlier this month, the two companies conducted a live run, incorporating exposure data from four banks, which resulted in the processing of 132 sides of trades within eight minutes and nine seconds.

Lucio Biase, chief executive of LMRKTS, said: “By offering access to LMRKTS’s analytics through Tradition’s existing infrastructure and technology, we have a market-ready solution; banks trust their tested pipes and, after four years of betas and pilots, believe in our results.”

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