RETAIL e-FX PROVIDER
Ongoing development
Markarian also sees a number of technical challenges in terms of the ongoing development of Bridging MT4 server applications as these market factors take hold. “While clients love MT4 for its simple yet powerful interface, developers do not share this same opinion mainly due to the fact that the API is not well documented and it is not FIX compliant.”
Divisa Capital offers a Bridge that was co-developed by MetaQuotes and Currenex that connects directly to the liquidity, says Markarian. “Most other Bridges require an additional server or server process that re-routes the trades creating performance issues and undesired latency. Our clients are able to access our top tier liquidity available via our Currenex hub without compromising the speed and reliability of MT4. Tese brokers are also able to take risk if they choose on a client by client basis.”
Markarian stresses that Divisa Capital’s objective is to provide all of its brokers with the tools necessary to run a successful FX brokerage and the latest generation of Bridging and risk management solutions are a key component in this ambition. Te feature- rich MT4 plug-ins and new technology can assist
Michael Makarian
“With increasing volatility and trade volumes, many larger brokers have enough scale required to STP their order flow in order to generate consistent revenues.”
brokers in capturing more business and handling their increasing volumes more efficiently. “Simply put, they reduce start-up and operational costs, while providing a better service for the end clients, which in return results in customer loyalty and business growth.”
Choice of solution
Cost, functionality and reliability are the most important factors brokers consider when evaluating Bridge solutions, says Markarian. “Another key factor is to have a knowledgeable team that is experienced with MT4 Bridge technology.”
Lior Shmuely
“Brokers have realised lately that pure B Book management may not be an optimum way to handle their risk, because of the growing number of accounts that have been successful as scalpers, robots and so on.”
156 | october 2011 e-FOREX
As well as catering for in-house installations or remote hosting, MT4 Liquidity Bridge providers also have to ensure scalability as trading volumes continue to grow, says Markarian. Tis over-riding necessity for scale consequently creates challenges for those providers looking to offer additional features and customised functions. “Most Bridges have similar order routing features, by group or trade size, but the most important is performance under heavy load. Te Bridge needs to be able to process hundreds even thousands of messages per second generated from automated strategies and expert advisors. MT4 is very picky. Additional features are nice but they also complicate the code and usually create more issues then they solve.”
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