tpMATCH FXO is Tullett Prebon's electronic FX Options matching platform that enables traders to reduce short dated strike mismatch risk. It sits alongside our successful FRA and NDF matching platforms which were launched in 2009 and 2010.
tpMATCH FXO enables traders to mitigate strike risk at mid-market volatility rates using a multilateral algorithm-driven matching system. The matching run is based on a mid-market volatility curve set by our desk and will offer delta hedged option trades. Traders specifying their option strike requirements commit to buy and sell equal currency amounts on a set expiry date wherever a matched spread can be executed.
Traders send orders to the matching session via a dedicated screen launched from Tradeblade. Once all orders are uploaded to the system tpMATCH FXO performs the matching run and instantly delivers the results on screen. All confirmations are generated automatically and sent in the usual way via RTNS, email etc.
Letting the parameters do the work
We know that it is easier and quicker to simply input all your open positions for an expiry rather than have to manipulate each specific spread. However, every trader wants confidence that any trades executed will make sense, or they maybe unsure of what spread combinations are most likely to trade in the market. For these reasons we have tailored the input possibilities and control functions to allow each trader confidence over risk control alongside the opportunity to take advantage of any market liquidity.
||Controls distance between matched strikes
||Groups selected strikes that can be matched
|Minimum Trade Size
||Restricts the minimum trade size executed
|Maximum Trade Size
||Restricts the maximum trade size executed