Day: 27 September 2017

Integral Cuts Brokerage on OCX

Integral Development has cut the fee for trading on its OCX trading platform effective immediately.
The technology provider says it will charge a flat fee of $2.75 per million, in addition the firm says it will not charge third party additional fees, port fees or market data fees.
“Our new pricing model for OCX does even more to improve the economics of running an FX business, providing a repeatable advantage in pricing and liquidity in an era of otherwise decreasing margins and increasing competition,” says Harpal Sandhu, founder and CEO of Integral.

Lucera Introduces Pre-Trade Credit Tool

Lucera has built out a low latency pre-trade credit control tool that is fully integrated with its LumeFX stack, in a bid to help prime services providers detect and prevent credit limit breaches.

The solution, which is already live and being used by Lucera clients, enables prime service providers the ability to get real-time alerts when one of their clients is approaching their credit limit.

“We got feedback from our clients that some of the products that they were using for pre-trade credit checking were difficult to administer or difficult to understand because they didn’t always make it clear why these credit limits were being triggered.

OTCXN Announces DV Trading as a Liquidity Provider

OTC Exchange Network (OTCXN) has announced that DV Trading has joined its early adopter Program as a liquidity provider. 

DV Trading will support Foreign Exchange liquidity provision in relevant currency pairs on OTCXN’s network. OTCXN’s Peer-to-Peer trading network and total trade-to-settlement solution aims to deliver a hybrid market model that combines high-performance, real-time trading technologies and enterprise blockchain technologies to solve market credit gaps, lower risk, and increase eligible counterparties. 

“Innovation is core to our business, and we strongly support OTC Exchange Network in its mission to democratise financial markets while leveraging Blockchain technology to reduce credit and settlement issues.  The global foreign exchange market is a natural place to start, but we expect OTCXN to adapt its technology solutions to support additional asset classes in the near future,” says Jared Vegosen, co-founder of DV Trading.

Hotspot Commits to Global FX Code

Hotspot says it has aligned its activities across its global business with the principles of the FX Global Code, issuing a statement of commitment today. 

Following a comprehensive internal review, Hotspot says that its business practices, procedures, compliance framework and disclosure standards have been augmented to fully reflect the Code’s principles, as published in May 2017.

The platform has also conducted a series of customer meetings to clarify how Hotspot’s adherence will impact them and their business. These efforts, which started over a year ago and developed as the Code’s drafting progressed, will remain a focus for Hotspot as adoption of the Code increases across the FX community and as its usage starts to further inform industry behaviour.

NEX Markets Launches NEX Quant Analytics

NEX Markets has launched a new suite of analytical tools on its EBS FX trading platform that seeks to match the sophistication levels of those available at banks and trading firms, however at market level.
NEX Quant Analytics was launched today and uses benchmark data taken from the entire EBS ecosystem. It delivers “real and measurable” insight for clients into their own trading activities and the ability to look at their performance versus that of their peers.
With execution quality taking a more prominent role in FX market participants’ thinking, especially around their market impact, the timing would appear to be good for the firm.

What Makes a Good FXPB Client?

It’s a valid question to ask FXPBs what constitutes a “good” client these days. Post-Basel III, firms taking big positions in non-spot products are going to consume vastly more balance sheet and capital than a firm trading only spot in smaller amounts, which can easily be serviced with a relatively little net open position (NOP).

This obviously suggests that, for example, an HFT deploying a spot-only strategy could potentially be a more attractive business proposition than a large macro fund trading longdated NDFs or options products.

However, speaking to a number of FXPBs, it immediately becomes apparent that such a view is too simplistic. One FXPB head says that this basic analysis is correct, but only assuming a legacy pricing model, which is derived primarily by frequency and size of transaction activity.