Digital Vega went live this week with its new trading platform Medusa. It is, the firm says, the first dedicated multi-bank FX options platform and is being rolled out across global asset managers, corporates, hedge funds and regional banks.
As options are almost certain to be pushed onto exchanges or swap execution facilities, Medusa ticks a lot of boxes (when not turning people to stone). The CFTC defines SEFs as: “A facility, trading system or platform in which multiple participants have the ability to execute or trade ‘swaps’ by accepting bids and offers made by other participants that are open to multiple participants in the facility or system, through any means of interstate commerce”.
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