Institutional FX liquidity
Aggregated FX top-of-book from tier-1 banks and specialist non-bank LPs, via FIX 4.4 / REST / WebSocket. For regulated counterparties only.
Pair coverage
Majors, minors and exotics
Coverage and spreads vary by session, counterparty tier and ticket size. The ranges below are top-of-book illustrative; firm pricing is published over your FIX session.
Majors
Minors / crosses
Exotics
Execution model
Aggregated pricing, smart routing
Drovix is designed to deliver consistent FX execution to regulated counterparties through a curated aggregation layer.
Aggregated pricing
Top-of-book is built from tier-1 bank and specialist non-bank LP streams, normalised and quality-filtered in real time.
Smart routing
Orders are routed against the LP combination most likely to fill at or inside the displayed price, taking ticket size and venue performance into account.
Reduced last-look rejections
LP performance — including last-look behaviour and reject rates — is monitored continuously, and the routing logic is designed to reduce last-look rejections for counterparty flow.
Settlement & operations
How FX settles at Drovix
Spot, forward and NDF lifecycle handled bilaterally as principal, with operations aligned to your prime-broker and back-office workflows.
Spot & forward settlement
Standard T+2 spot settlement, with outright forwards and swaps available to approved counterparties under agreed credit terms.
NDF coverage
Non-deliverable forwards on selected emerging-market currencies, cash-settled against the agreed fixing — no physical delivery.
Post-trade & give-up
Drop-copy, allocation and give-up workflows aligned to your prime-broker arrangements, with fill-level TCA delivered on request.
Liquidity & execution quality
Depth that holds at clip size
Top-of-book is only useful if it survives your ticket. Drovix is built so that displayed pricing reflects book depth at realistic institutional clip sizes — not headline quotes that thin out the moment you trade. The figures below are operational targets, not guarantees.
Depth at clip size
Streamed top-of-book is calibrated to the LP depth available at your typical ticket profile, so the price you see is representative of where institutional size can clear.
Last-look monitoring
Every LP's last-look window, hold time and reject behaviour is measured continuously. Persistent under-performers are down-weighted in routing or removed from the book.
Reject & slippage analytics
Fill ratios, mark-out and realised slippage are tracked at venue and pair level. Counterparties can request fill-level TCA to validate execution quality against the displayed price.
NDF lifecycle
Non-deliverable forwards are priced against the agreed fixing source, with fixing capture, valuation and cash settlement handled bilaterally as principal — no physical delivery leg.
Symmetric mark-out
Routing logic targets symmetric mark-out so flow is not systematically disadvantaged after the fill. Pricing remains top-of-book illustrative until firmed over your FIX session.
Principal counterparty
Drovix (MU) Ltd faces each counterparty as principal under the agreed ISA, giving a single bilateral credit and settlement relationship across the full FX book.
Counterparty types
Who trades FX with Drovix
The Drovix FX desk deals only with professional clients and eligible counterparties under a bilateral ISA. The desk does not onboard or service retail clients.
Regulated brokers
Brokers sourcing aggregated FX top-of-book to internalise or pass through to their own professional client base under a white-label or liquidity-only arrangement.
Funds & asset managers
Hedge funds and asset managers running directional, carry or hedging FX programmes that need deep books across majors, crosses and NDFs from one counterparty.
Proprietary trading desks
Prop desks requiring low-latency FIX 4.4 connectivity, predictable fills at clip size and transparent last-look behaviour across the pair universe.
Leveraged OTC products, including Forex and CFDs, carry a high level of risk and a counterparty may lose more than its initial margin. The Drovix offering is directed exclusively at Eligible Counterparties and Professional Clients; Drovix does not provide services to retail clients.
Pricing shown is top-of-book illustrative. Actual execution depends on ticket size, ISA terms and prevailing market conditions. Drovix does not provide services to retail clients.