Tag: Pricing

Pricing

Coalface Capital Chooses NCFX for Pricing

Coalface Capital, a fintech firm focused on using artificial intelligence (AI) technology in the investment management sector, has selected New Change FX (NCFX) as the pricing provider for its automated trading system. NCFX provides live mid-rates across 2,500 spot pairs and 8,500 different forward tenors. “We conducted a review of possible providers of “true-mid” pricing […]

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.

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.

And Finally…

The communications channels have been buzzing following Thursday’s column about banks taking more risk in their FICC businesses – especially FX – and some really good points were made by correspondents. But while there was general agreement that more risk-takers would benefit the broader industry, my correspondents and I diverged on a key point. To me this is not about spreads or the advantage of man over machine (or vice versa), it is about the risk taking role adding something different.

Five Theories About Why Crypto Prices Keep Trending Down

At the start of 2017, a single bitcoin was valued at less than $1,000, yet by mid-December it had almost hit $20,000. Investors were pouring into the space, Initial Coin Offerings (ICOs) were being launched left, right and centre and – given the limited supply of bitcoins that can ever exist – some market commentators were making wild predictions about how high the value of this asset would ultimately go.

But despite starting the year at around the $15,000 mark, the price of bitcoin has fallen to $6,671 at the time of writing and other major cryptocurrencies have suffered a similar decline. So what went wrong?