Our Market Making Principles

1 XTX believes that the use of anti-latency arbitrage mechanisms, such as speed bumps, for takers on ECNs and exchanges benefits market microstructure


2 XTX maximizes its internalization rate and minimizes information leakage to public venues and direct clients


3 Zero Hold Time for direct disclosed bilateral trading relationships in FX, i.e. XTX applies the price check as soon as the trade request is received. No artificial holding window is applied, meaning that there is no ability to pre-hedge and/or use rejected order information


4 Preference for Full Amount streams for direct disclosed bilateral trading relationships


5 XTX is a risk-holding liquidity provider and our market-making approach aims to minimise market impact (average holding period of 5 minutes for G10s and 16 minutes for EMs)


6 Full post-trade transparency including millisecond precision timestamps, market impact analysis, cost of rejects via XTX-Ray or your TCA provider