Tag: ECN

ECN

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.

Spotex Hires Miesner

Spotex, a developer of technology systems for the FX markets and ECN operator, has hired John Miesner as executive managing director, global head of sales and distribution. “We are fortunate to have John join us at this transformative point in our evolution,” says Ritesh Agrawal, CEO of Spotex. “John’s vast knowledge of the institutional foreign exchange market and its key participants will be a tremendous asset as he leads the company forward.”Spotex was launched in 2014 by Agrawal, who previously held senior IT positions at Hotspot FX (now Cboe FX), GFI and PwC, and COO Chris Mitchell, who held similar positions in financial technology.

OTCXN Signs OSL as Crypto Liquidity Provider

OTCXN, a blockchain-powered capital markets infrastructure company, announced that OSL, an OTC digital asset brokerage company in Asia-Pacific, has joined its network as a liquidity provider. “We are extremely pleased to have OSL join our network as a core liquidity provider. Having a major market participant like OSL providing liquidity on our network is a testament to the strength of our core value proposition – eliminating trading counterparty and settlement risk. The presence of key market participants like OSL accelerates market adoption and expansion of the OTCXN network to reduce risks and efficiently scale crypto trading across the entire ecosystem. We look forward to working closely with OSL to serve our mutual clients,” says Rosario Ingargiola, CEO and founder of OTCXN.

Integral Reports $35bn ADV for April

Integral has begun reporting the monthly average daily volume (ADV) of FX products traded across its platforms, revealing that in April this ADV was $35 billion.

The firm says that this figure is consistent with the ADV that it recorded throughout the first quarter of 2018, which were between $34.5 billion and $38.5 billion.

Speaking to Profit & Loss, Harpal Sandhu, CEO of Integral, says the decision to start publishing monthly trading volumes was driven, in part, by the ongoing curiosity from market participants regarding the platform’s growth.