BidFX

About BidFX

Originally established as BidFX in January 2017, the company now operates under the name SGX FX following its acquisition by the Singapore Exchange (SGX). The firm was co-founded by a team of foreign exchange (FX) market veterans, including Jean-Philippe Malé, who continues to lead the business. This leadership team brought extensive experience from previous roles at firms like Morgan Stanley, leveraging their deep understanding of the FX market to build a specialized platform. The company's journey began with a strategic investment from the Singapore Exchange in 2019, which then moved to acquire the remaining interest in 2020, integrating BidFX into its broader multi-asset strategy.

SGX FX specializes in providing sophisticated electronic trading solutions for the global foreign exchange markets. The firm caters to institutional clients, including hedge funds, asset managers, and banks, offering them a comprehensive suite of tools for trade execution and workflow management. Its core business revolves around providing a high-performance trading platform that connects clients to a deep pool of liquidity from major FX banks. The business model is primarily subscription-based, generating revenue through fees for access to its platform and trading services.

The platform, a cloud-based Foreign Exchange electronic trading solution, delivers a front-end trading desktop and mobile application alongside a flexible API. Key features include advanced order types, pre-trade and post-trade analytics, and tools for transaction cost analysis (TCA), which help clients optimize their trading strategies and demonstrate best execution. The system aggregates liquidity from over 100 sources, providing clients with competitive pricing and efficient execution for spot, forwards, and swaps in a wide range of currency pairs. One of its differentiating factors is the ability to provide clients with a customized liquidity stream tailored to their specific trading needs.