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Info
titleNDF Trading

As of 14 June 2022, clients must specify RegulatoryBodies.MAS = TRUE

Fastmatch enables the trading of Non-Deliverable Forwards (NDFs) through its subsidiary Euronext Markets Singapore Pte Ltd, which has a Regulated Market Operator (RMO) license approved by the Monetary Authority of Singapore (MAS).

Refer to https://www.euronextfx.com/products/ndf-trading for detail.


MidDiscretionary Pegged Orders

MidDiscretionary orders are pegged orders with the discretion to match at a rate up to the mid-point price.

Clients interested in trading MidDiscretionary pegged orders should ensure the following conditions are met in the NewOrderMultileg:

  • PegPriceType = PrimaryPeg (PassivePeg)
  • PegOffsetType = Ticks
  • BodyPassthruKey = MidDiscretionary and BodyPassthruValue = Y


Note
titleFastMatch MidDiscretionary Pegged Orders Matching
  • MidDiscretionary pegged orders float as a passive order at first.
  • When the attempt to match as a passive order fails, the order becomes an aggressor to match at a rate up to the mid-point, when an opposing order is available with the same entitlements.
  • Every time the FastMatch BestBidOffer (BBO) changes, FastMatch attempts to match the MidDiscretionary orders at passive. When the attempt to match as a passive order fails, FastMatch tries to match the order at the mid-point.
  • A MidDiscretionary order that floats at passive can match an aggressive order.
  • A MidDiscretionary order that failed to match at passive, when attempts to match at mid-point, will only match a passive order.