Automating the FX Forwards market one step at a time 

NCFX Options Cut: Automating the FX Forwards market one step at a time 

Revolutionising options expiry with automation 

In the ever-evolving foreign exchange market, the need for efficiency is paramount. New Change FX’s Options Cut process is rapidly becoming the industry standard for automating the expiry of foreign exchange options, and for good reason. As price makers and takers strive to reduce costs and reallocate resources towards more profitable ventures, operational processes like trade confirmations, reconciliations, and limit checks are the first to embrace automation. 

The options expiry process fits seamlessly into this framework. It is a critical, yet non-profit-seeking function that demands reliability, fairness, and efficiency. Built on our unique streaming benchmark spot rates, the NCFX Option Cut prioritises these core attributes, ensuring a superior experience for all users. 

Transparency and efficiency 

When both parties of an option agree to expire it at the New Change Cut, they receive instantaneous and simultaneous rates via an electronic connection at expiry. This eliminates uncertainty about market pricing and minimises potential disputes. Whether both sides prefer a fully automated process or wish to maintain some discretion, the NCFX Options Cut offers flexible solutions tailored to their needs. 

Unmatched independence and reliability 

Our cloud-based expiry process operates from dual data centres, providing the reliability and security that today’s market demands. This robust infrastructure ensures consistent performance, allowing traders to focus on their strategies rather than operational concerns. 

Cost savings through automation 

The electronification of the options expiry process significantly reduces the costs associated with managing these transactions. Both parties can establish an automated expiry service that is not only cheaper but also less prone to errors compared to manual processes. Users have reported reducing their trading ticket size and increasing their ticket numbers because they worry less about operational costs. This shift enables traders to minimise spreads by operating within optimal ticket sizes, enhancing their overall trading efficiency. 

‘ForexClear are supportive of the automation of the exercise expiry process and have used the NCFX price feed since we launched our deliverable service in 2018. We have seen over 100% growth from the same period last year, with 2025 YTD ADV at $27.97bn. We look forward to more banks going live on the service this year and partnering with more participants in the deliverable FX market, as we continue to expand.’ 

Laura James, ForexClear COO, LCH, LSEG 

Join the future of FX options trading 

Experience the benefits of automation with the NCFX Options Cut. Streamline your trading operations, reduce costs, and enhance your profitability today.

For more information please contact: info@newchangefx.com

Read the full article here: NCFX Options Cut: Automating the FX market one step at a time - e-Forex