MarketFactory has integrated its API, Whisperer, with Elysium Technology Group’s middle and back office product, Mission Control.
Whisperer is a low-latency API that connects traders to over 80 ECN, bank and non-bank FX venues for market data, trading and market making. Mission Control is a cloud-based enterprise solution that enables FX trading operations to automate and optimise middle and back office functions.
A global investment bank was the first customer to go live with the integration last month, says MarketFactory in a release issued today.
By leveraging both Whisperer and Mission Control, firms will be able to connect to multiple FX venues while simultaneously monitoring their positions, credit, reconciliation and P&L. The aim of combining the two systems, says MarketFactory in the release, is to empower customers to have full operational command of their trading business and complete trade lifecycle from point of execution to settlement.
“Elysium Technology Group is the ideal partner for us as we are both focused on delivering technology solutions that allow the buy side to focus on alpha, pricing, hedging and risk management,” says Christian Reiss, director of sales at MarketFactory.
Roque Castro, head of product and business development for Elysium, adds: “We have found tremendous synergies between our business strategies and FX technology capabilities. MarketFactory’s highly experienced team made the integration process run smoothly. I am excited by the enhanced value of our combined offering.”
Additionally, due to client demand, MarketFactory is in the final stages of releasing a new version of Whisperer called Whisperer Enterprise that supports FX trading connectivity for all instrument types – except options – for making and taking.