Platform Set to Revolutionise Execution in the Global FX Market

4 September 2024 – Jersey BlueX, the transformative FX trading technology platform, is delighted to announce its official go-live, with the first production trades now executed. This follows the recent granting of its licence by the Jersey Financial Services Commission (JFSC).

BlueX provides a wide range of unique trading tools and workflow automation, offering global institutional market participants versatile and efficient trading solutions. The seamless integration of best-in-class third-party applications directly into the trade flow is central to BlueX’s differentiated approach. This interconnected ecosystem simplifies execution and makes decision-making effortless for traders, with data and analytics built into every trade.

Owned by BlueCrest Capital Management (BlueCrest), BlueX utilises technology and systems that have been developed and extensively tested by BlueCrest for many years, with trillions of dollars executed, demonstrating exceptional performance, stability, and reliability. “Inspired by traders, for traders,” the platform brings a new level of efficiency and optimisation to FX trading.

Graham MacGregor, CEO of BlueX, said: “By combining advanced core platform features with third-party trading tools directly into the end-user workflows, BlueX delivers a unique value proposition that sets it apart from other Execution Management Systems. Optimising execution decisions, while supporting flexibility and customisation, is central to our mission.”

BlueX has developed strategic partnerships to deliver its platform’s capabilities:

  • Tradefeedr: Integrates critical trade data, allowing clients to evaluate execution costs and expected returns for various strategies on a trade-by-trade basis, significantly enhancing trading performance.
  • New Change FX: Offers the sole regulated FX benchmark price feed for spot and forward trades, enabling real-time pre-trade price checks and tolerance checks for auto-execution workflows to ensure precise execution.
  • Lucera: Facilitates rapid onboarding of liquidity providers, supporting multiple execution methodologies through a single connection.

Manuel Aranzana, Head of Systematic Trading at BlueCrest, said: “Requests from demanding BlueCrest traders, combined with partnerships with best-in-class data and analytics providers, have led, over many years, to an optimised, robust trading tool supporting trillions in FX yearly. BlueX’s use of this technology marks an exciting new stage of innovation for the industry.”

CEO MacGregor continued: “BlueX is focused on building highly functional workflows, seamlessly integrated into the trading environment. Our aim is to simplify execution by embedding data and analytics directly into the trade cycle, optimising broker liquidity selection while guiding users to the most efficient execution methods, leveraging pre- and post-trade transaction cost analysis.

“With the recent granting of our license by the Jersey Financial Services Commission (JFSC), BlueX has the requisite structures in place that the market demands. With the first production trades now executed, I am excited to bring BlueX’s unmatched versatility to market.”

The BlueX platform is designed to provide universal client segment support, offering versatile and adaptable trading solutions to global institutional market participants across the buy- and sell-side, including regional banks, hedge funds, corporates, asset managers, and brokers.

FX industry veteran Graham MacGregor joins BlueX as CEO from LSEG

BlueX aims to bring unique, game-changing FX trading technology platform to market, incorporating versatile trading tools to support systematic and discretionary trading all in a single application

7 September 2023 – BlueX, a new innovative FX trading technology platform aiming to launch in the coming months, announces the appointment of veteran CEO, Graham MacGregor.

BlueX, a new company owned by BlueCrest Capital Management, utilises BlueCrest developed technology and systems. “Inspired by traders, for traders”, the platform has been extensively tested for many years at BlueCrest with $trillions being executed, demonstrating exceptional performance, stability and reliability.

Upon launch BlueX will aim to offer a wide range of unique trading tools to provide global institutional market participants with versatile trading solutions and workflow automation in a single application. 

The integration of BlueX’s proposed key features in one application will aim to offer a unique value proposition, setting it apart from existing providers:

  • Unique data driven execution for value generation
  • Versatility in trading solutions for both discretionary and systematic trading
  • Wide array of unique trading tools in one place
  • Integrated workflow automation
  • Access to multiple FX liquidity pools

Seasoned industry leader Graham MacGregor joins as Chief Executive Officer to lead BlueX’s operations and development as an independent business in Jersey. MacGregor has a strong track record of operational success, most recently as CEO, FX Transactions at London Stock Exchange Group (LSEG) and previously as EMEA Head of Sales & Relationship Management and CEO, FX MTF Business at Refinitiv.

BlueX’s launch is subject to regulatory approval from the Jersey Financial Services Commission.

Graham MacGregor, Chief Executive Officer, BlueX, said:
“BlueX will aim to set a new gold standard in FX trading. BlueX’s commitment to integrating data analytics lies at the heart of its mission to empower traders to achieve optimal execution decisions in both a normalised and fast-paced FX market.”

“BlueX will look to offer a multifaceted solution that supports various trading styles and needs in a single application, serving as a pivotal tool for the end user. Inspired by traders for traders, the platform is testament to BlueCrest’s unwavering commitment to innovation, excellence and pushing the boundaries in the world of finance. It is a privilege to lead BlueX’s growth and development as an independent business.”

Manuel Aranzana, Head of Systematic Trading, BlueCrest Capital Management, said:
“The platform became the single execution venue for FX at BlueCrest thanks to its unique trading features and tools requested by the BlueCrest portfolio managers using it daily. BlueX is a mature, stable, and sophisticated solution and we are excited to pass on its legacy to an independent executive team, ably led by Graham MacGregor to harness its potential to revolutionise the trading landscape.”