Siege initially facilitates the netting of Spot FX risk with a view to offering services in other FX instruments in the future. We currently support the standard spot delivery periods generally accepted in the market for each relevant currency pair, so two trading days for most pairs and one for Canadian Dollar crosses.
New Change FX (NCFX) is a FCA-regulated data and analytics company on the UK register of approved benchmark administrators. This means that NCFX benchmark rates are compiled from multiple undisclosed sources, are non-manipulable and governed by a recognised regulatory framework. We think this is unique in the market and Siege has exclusive access to this streaming market data for the purposes of binding spot netted transactions.
NCFX publishes Spot FX mid-rate benchmarks that update 20 times a second and Siege connects directly to NCFX in Equinix LD4. Clients with access to the Siege trading user interface can view throttled NCFX spot data, but Siege does not have redistribution rights to the streaming service. Participants and prospects interested in the NCFX offering should contact NCFX directly or see https://www.newchangefx.com/data/