FX Global Code Statement of Commitment

SafeMatch

SafeMatch is a periodic auction product. SafeMatch is available to the buy and sell side to provide a transparent, dealable point-intime crossing auction, with the option for auction imbalances to be executed utilising AlgoMatch.

SafeMatch matches buy and sell orders at the average midpoint price between 3:57:30PM London Local Time and 4:02:30PM London Local Time.

How Does It Work?
  • Clients can submit or cancel orders up to 3:55PM London Local Time
  • At 3:55PM London Local Time, a match runs and the client knows the quantity filled but not the crossing price.
  • If there is an unfilled quantity on the order, a client can cancel the balance or work the imbalance using the FastMatch proprietary algorithms.
  • Imbalance algorithm will fill the balance of the order during the time when the crossing price is calculated (between 3:57:30PM London Local Time and 4:02:30PM London Local Time.
  • At 4:02:30PM, match price is determined by taking average midpoint value for the previous 5 minutes.
  • Customers receive the fill price on their matched orders.