Russell Investments has released figures from an internal study showing significant cost savings delivered by Russell FX Network (RFX Network) for currency transactions in 2017.
RFX Network is a trading platform for foreign exchange (FX) transactions designed for the buy-side community, including asset owners and pension funds. Built on Integral’s InvestorFX technology, RFX Network combines advanced execution functionalities with a seamless OMS and allocation workflow designed for asset managers.
Transactions executed in 2017 through RFX Network saved clients 64% in execution costs, consistent with the 65% savings delivered in 2016.
“Our findings attribute these cost savings to a combination of better liquidity and superior netting,” said Jason Lenzo, Director of Equity, Fixed Income and FX Trading at Russell Investments. “Our firm’s trading desk has been using Integral’s technology for several years and, as a result, we can offer a substantially better service to our clients.”
By leveraging Integral’s InvestorFX technology, RFX Network brings a number of innovative features to FX markets that generally are associated with equity markets, such as smart order routing and aggregation, access to non-bank liquidity, broker-neutral algorithms, and midpoint matching.
“We are proud to continue providing top-tier technology to our long-term partner, Russell Investments, to help their clients achieve tremendous cost savings in their currency executions,” said Vikas Srivastava, Chief Revenue Officer at Integral.