Bridging the ECN market gap
Tere exists a cavernous gap in the ECN market, with currently available solutions too often involved with taking a platform that was not designed to function as an ECN and adding numerous bolts and screws in order to provide a barely up to standard ECN alternative. Te market is demanding a long overdue, genuine ECN solution, and we are filling this demand with products which create additional value for our
partners.It’s obvious that brokers today are facing
mostly the same complications they have been facing for over ten years; those of latency, connectivity, platform speed, reliability and security.
We have replaced all the old concerns of failed entries and exits, unfilled stops, negative slippage, etc. and we’ve introduced a robust trading package with lightning-fast order execution previously only available through institutional networks. What we offer to brokers is the ability to constrain platform and execution speed to the capacity of the trader’s internet connection. Sub-millisecond latency, flawless connectivity with FIX Protocol, delivered securely though our proprietary proxy cloud to the advantage of both the trader and the broker.
Te trend in forex is highly in favour of a move towards ECN agency model brokers – and these topics are dominating the conversation when it comes to traders choosing their service. Brokers are also recognizing that the opportunity exists to introduce to their clients a truly marketable proposition of the ECN agency model in an industry struggling to convince over issues of trust and transparency. Te alignment of interests between brokers and traders which occurs under true ECN conditions makes for an attractive proposal to a more discerning type of trader, as well as traders already disaffected with the current broker-client dynamics.
Conclusion
ECN immediately paves the way for brokers to build a mutually beneficial client relationship model, and focus more resources on customer retention strategies, a far more beneficial model in the long run than the current average market maker acquisition and burn rate. Another major reason for the rush to ECN is the exposure brokers face from large volumes in volatile periods and from automated and high-frequency trading, which has exploded onto the retail forex industry.
Tese elements can offer brokers their more profitable periods, but also place the broker under a severe risk burden. Te sheer volume and frequency of these trades mean that risk managers can no longer keep up. With ECN we not only reduce the risk, but often eliminate it completely.
For traders and brokers alike, our research and our work here over the last few years has shown us that ECN is the answer to many of the problems facing the Forex industry. cTrader aims to rollout our breakthrough solutions and foster a new, unusually satisfied Forex community.
For further information please visit
www.ctrader.com
january 2012 e-FOREX | 159
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