Susquehanna Leads Investment for SpectrAxe

OTC FX options marketplace SpectrAxe has secured a Series A investment led by Susquehanna International Group, to drive innovation in the FX options trading market. According to a story in The Trade news, the investment is expected to accelerate change by allowing market participants to trade OTC FX options directly with each other within a single venue, through SpectrAxe’s all-to-all central limit order book (CLOB) platform.  Jarrod Boland, associate director at Susquehanna International Group said: “We’ve watched SpectrAxe’s development with great interest since their launch. Their platform has demonstrated that a central limit order book can successfully operate in the OTC FX options market, driving meaningful improvements in price discovery and liquidity access.” Through using CLOB, the company aims to address traditional challenges facing the FX options market including manual chat or phone-based trading and reduce barriers to entry for market access while improving operational efficiencies.