Tag: analytics

analytics

Mosaic Completes $9m Investment Round

Mosaic Smart Data, which offers real-time data analytics for FICC, has completed a $9 million investment round co-led by CommerzVentures and Octopus Ventures and including JP Morgan – an existing investor and client. Mosaic’s technology cleanses, normalises and enriches raw data, providing a consolidated real-time view and analysis across the flows of market activity. The […]

A Closer Look At: Real-time Transaction Cost Estimation

Morgan Stanley’s Matt Thomas, global head of MSET macro sales, and Jian Chen, head of quantitative solutions and innovations (QSI), explain how transaction cost analysis (TCA) is evolving into a real-time estimative framework tool. Profit & Loss: Talk to me about how you see transaction cost analysis (TCA) evolving in the FX space? Jian Chen: […]

In the FICC of It Special

Ahead of the unveiling of the 2019 Digital FX Awards for bank single dealer platforms tonight, Colin Lambert, managing editor of Profit & Loss, sat down with John Ashworth, CEO of Caplin Systems, for a special In the FICC of It podcast, sponsored by Caplin Systems. In this special our two podcasters looks at the […]

Market Impact: Friend or Foe?

Speakers at the Profit & Loss Forex Network New York event highlighted that how you define, measure and respond to market impact when trading FX depends on a number of different variables. Opening the discussion ‘Market Impact – Finding Execution Styles that Work’ moderator Paul Aston, the CEO of Tixall Global Advisors, argued that while […]

MahiFX to Exit Retail FX Space

MahiFX has announced its intention to sell its Financial Conduct Authority, Australian Securities and Investment Commission and New Zealand Financial Markets Authority licences.
The move signals an what the firm says is an “important strategic change” as it pivots away from providing retail FX brokerage services towards what it says is “core competency as a B2B technology provider to banks and brokers”.
David Cooney, co-founder and CEO of MahiFX, says, “The retail space is experiencing many of the challenges that the institutional space has been faced with for years.

Data Remains the Key Battleground for FX Platforms

Platform providers are becoming more conscious about the value of data, both for their businesses and their clients. Galen Stops takes a look at what this means for the FX industry.I f there is one consistent trend that emerges talking to all of the major OTC FX trading venues in 2019, it is that they’re all keen to emphasise the importance of data, both with regards to how they operate their businesses and how their clients operate theirs. On the one hand, FX trading venues are increasingly looking for ways to package and sell their market data, creating new revenue streams for the business. On the other, seemingly all of them are investing in developing trade analytics tools that will enable users of these platforms to derive greater insights from their trading activity and more effectively evaluate the liquidity and pricing available there.

Data Remains the Key Battleground for FX Platforms

Platform providers are becoming more conscious about the value of data, both for their businesses and their clients. Galen Stops takes a look at what this means for the FX industry.I f there is one consistent trend that emerges talking to all of the major OTC FX trading venues in 2019, it is that they’re all keen to emphasise the importance of data, both with regards to how they operate their businesses and how their clients operate theirs. On the one hand, FX trading venues are increasingly looking for ways to package and sell their market data, creating new revenue streams for the business. On the other, seemingly all of them are investing in developing trade analytics tools that will enable users of these platforms to derive greater insights from their trading activity and more effectively evaluate the liquidity and pricing available there.

FXSpotStream: A Model That Works

Throughout 2018 FXSpotStream experienced a very sizable increase in trading volumes, even though it made no trading product launches on its service last year. Yes, in 2017 it added NDF/NDS products to its trading suite, and yes, in percentage terms it saw a healthy increase in trading volumes in this segment, but this still only accounts for less than 1% of the overall volume on the service. Instead, FXSpotStream’s CEO, Alan Schwarz, attributes the uptick in trading volumes to a significant increase in business from existing clients and volumes coming on line from new clients in the pipeline. At the same time, a broader shift in the market towards disclosed trading is contributing to FXSpotStream’s volume growth as is the firm’s fee structure, which sees liquidity provider banks pay a flat monthly fee to trade on the service while liquidity takers are not charged at all.

FXSpotStream: A Model That Works

Throughout 2018 FXSpotStream experienced a very sizable increase in trading volumes, even though it made no trading product launches on its service last year. Yes, in 2017 it added NDF/NDS products to its trading suite, and yes, in percentage terms it saw a healthy increase in trading volumes in this segment, but this still only accounts for less than 1% of the overall volume on the service. Instead, FXSpotStream’s CEO, Alan Schwarz, attributes the uptick in trading volumes to a significant increase in business from existing clients and volumes coming on line from new clients in the pipeline. At the same time, a broader shift in the market towards disclosed trading is contributing to FXSpotStream’s volume growth as is the firm’s fee structure, which sees liquidity provider banks pay a flat monthly fee to trade on the service while liquidity takers are not charged at all.

Cboe FX: Driven by Data

In terms of volumes, Cboe FX indisputably had a great year in 2018. It’s average daily volume for the year was $37.4 billion, it’s highest ever recorded and a 27% increase from 2017. Breaking down this figure further, the ADV on the London matching engine doubled, there was a 35% increase in trading activity during European or Asian hours, CNH trading on the platform doubled to become the sixth most actively traded currency on the platform and there was good growth in its full amount offering which accounted for $3.5 billion in Q4 of 2018, up 600% year-on-year. Discussing what prompted such an uptick in trading activity, senior staff at Cboe FX point to investments in technology and infrastructure that occurred in 2017, in addition to the fact that the full amount platform was re-built in 2018.