Tag: ECN

ECN

2019 Profit & Loss Readers’ Choice Awards

More than 3,000 votes were cast in this year’s Profit & Loss Readers’ Choice Awards, which created strong competition throughout the categories. For the first time categories for cryptocurrency markets were introduced and proved to be very popular, alongside the more traditional categories. Here then, are this year’s winners: Best Market Maker (Major Currencies) JP […]

Spotex Hires Gillespie for Eurozone FX Sales

Spotex, a developer of FX technology systems and ECN, has hired Kevin Gillespie as director of institutional sales. In his new role, Gillespie, who is based in London, is set to cover institutional and broker clients as well as banks, primarily in Europe. Reporting to John Miesner, executive managing director and global head of sales […]

Euronext FX: Same Platform, Bigger Ambitions

Kevin Wolf, CEO of Euronext FX, explains how the rebranding of FastMatch is indicative of the widening client base and service offering of the firm. This content was sponsored by Euronext. Profit & Loss: You recently rebranded FastMatch as Euronext FX, can you talk me through the thinking behind this change? Kevin Wolf: This rebranding […]

FastMatch Rebranded as Euronext FX

FastMatch has been officially rebranded as Euronext FX. Euronext says that this represents “a new step” in the integration of FastMatch into its business and that it reflects “the evolution of FastMatch” since it acquired the platform. “While the FastMatch brand name is synonymous with speed and best in class technology, Euronext stands for transparency, […]

360T: Executing On Its FX Strategy

2018 saw 360T – part of Deutsche Börse Group since 2015 – make a number of changes to its business, both internally and externally. Internally, there was a significant turnover within the group’s senior management. Alfred Schorno left after 15 years at 360T, with Sebastian Hofmann-Werther replacing him as head of EMEA at the firm; Christian Schuhegger left his role as head of technology and was replaced by Jens Kramer, and Matthew Kuppe changed from having a regional role covering APAC to a product-focused role based in Sydney, with Andrew Jones named as managing director for APAC in his stead. In addition, Jens Quiram (Eurex) was added to the group’s executive board and Vincent Sangiovanni joined as part of the GTX acquisition that was announced in May 2018 and retains responsibility for running that platform. “

360T: Executing On Its FX Strategy

2018 saw 360T – part of Deutsche Börse Group since 2015 – make a number of changes to its business, both internally and externally. Internally, there was a significant turnover within the group’s senior management. Alfred Schorno left after 15 years at 360T, with Sebastian Hofmann-Werther replacing him as head of EMEA at the firm; Christian Schuhegger left his role as head of technology and was replaced by Jens Kramer, and Matthew Kuppe changed from having a regional role covering APAC to a product-focused role based in Sydney, with Andrew Jones named as managing director for APAC in his stead. In addition, Jens Quiram (Eurex) was added to the group’s executive board and Vincent Sangiovanni joined as part of the GTX acquisition that was announced in May 2018 and retains responsibility for running that platform. “

Integral: Adopting the Netflix Model for Technology

I ntegral reported average daily volume (ADV) of $36.41 billion between April 2018 and the end of the year, although this figure includes all FX products, not just spot. Because last year was the first time that Integral publicly started reporting monthly volumes it’s impossible to benchmark the firm’s performance along this metric, but in any case the firm’s CEO, Harpal Sandhu, explains that these volumes are really indicative of client performance rather than the platforms. “Integral is much more heavily weighted towards being a technology provider for our customers, as opposed to being just a pure platform or ECN,” he says.

Integral: Adopting the Netflix Model for Technology

I ntegral reported average daily volume (ADV) of $36.41 billion between April 2018 and the end of the year, although this figure includes all FX products, not just spot. Because last year was the first time that Integral publicly started reporting monthly volumes it’s impossible to benchmark the firm’s performance along this metric, but in any case the firm’s CEO, Harpal Sandhu, explains that these volumes are really indicative of client performance rather than the platforms. “Integral is much more heavily weighted towards being a technology provider for our customers, as opposed to being just a pure platform or ECN,” he says.

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.

OTCXN Launches LiquiMatch FX ECN

OTCXN, a blockchain-powered capital markets infrastructure company launched a new foreign exchange trading venue, LiquiMatch FX.This ECN is an institutional-only FX dark pool embedded in a lit pool, providing users with multiple trading options simultaneously.  With no visible book or ticker, dark pool users will be able to trade without broadcasting their activity to the visible markets, meaning that users should be able to minimise their impact on the market and reduce slippage. When users wish to show their liquidity, they can do so by sending lit orders to the combined book.