All to All
for
OTC FX Markets
EXCHANGE-STYLE INFRASTRUCTURE FOR OTC FX & PRECIOUS METALS
SpectrAxe brings exchange-style trading to OTC Foreign Exchange and Precious Metals — the first true central limit order book for all institutional users, with support for all-to-all bilateral trading, even between counterparties who have no existing credit relationship. A single connection gives you access to the entire SpectrAxe trading community.
Exchange-Style Infrastructure
Built for OTC FX
SpectrAxe is designed to complement your existing workflow with the infrastructure to serve as a complete solution.
Lit Order Book
The first and only electronic central limit order book in FX options for all institutional players.
Decoupled Credit
Execute with anyone on the platform. One agreement replaces the need for multiple ISDAs, designation notices, and 4-way agreements.
Additive by Design
SpectrAxe fits alongside your current dealer relationships and platforms. Use it to access new liquidity and automate flow — or as a full execution venue. No rip-and-replace required.
Optimize Credit & Margin
Use SpectrAxe Switch to seamlessly manage credit and margin across counterparties and prime brokers.
Two Ways To Trade
SpectrAxe offers both anonymous and disclosed pathways to trading giving our users unprecedented access to liquidity and connection between counterparties.
Central Limit Order Book
ANONYMOUS
The only true all-to-all electronic central limit order book for OTC FX options. Any participant can post firm, executable prices. Full pre-trade transparency, complete post-trade anonymity.
Direct Trading
DISCLOSED
SpectrAxe's credit framework enables disclosed, relationship-based trading between counterparties that could never face each other bilaterally. No new ISDAs, no 4-way agreements, no designation notices — trade with non-bank market makers, regional specialists, and institutional peers through a single existing credit relationship.
Designed for any firm managing positions across multiple prime brokers & counterparties.
Any Tenor
You can now switch in Forwards and NDFs - not just Spot.
No Bespoke Docs
A single SpectrAxe agreement replaces bilateral switch agreements between primes.
Automated Workflow
Intuitive UI allows for seamless entry and downstream messaging to each prime broker - no integration work required.
Full-tenor position switching across prime brokers.
Historically limited to spot and constrained by bespoke legal agreements between each pair of primes, Switch extends to forwards and NDFs through a single web-based portal.
Multi-Asset Infrastructure
SpectrAxe is a CFTC-registered Swap Execution Facility. All US regulatory reporting is handled by the platform.
FX Options
Anonymous central limit order book and disclosed trading for vanilla options with automated expiry handling.
NDFs
Full lifecycle support for non-deliverable forwards including regulatory reporting.
FX Swaps
Execution and credit infrastructure for FX swaps across the curve.
Precious Metals
Forwards and options in OTC precious metals through the same connectivity layer.
