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FOREX TECHNOLOGY


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“Tus co-located data centers getting ultra-low latency connection to venues is the key value for HFT. Set up time and connectivity to multiple venues takes time. Tis is reduced through managed network services,” says Sankar.


FX trading firms which enlist providers of such services obtain the benefits of reduced infrastructure and investment costs, as a result of the shared infrastructure model. “Tis enables small and medium sized firms to reach the market quickly and offer some of the same features only the larger firms could provide at one point of time,” says Sankar.


Pay as you go – and grow


In addition to the rapid, low-cost deployment capabilities network managed services offer, users of FX market data on such platforms can narrowly refine their use. Savvis, for example, enables users to rent servers for time periods which can be an ongoing basis, for just for six months – or even by the hour.


“Clients can come to us and build a virtual solution for themselves. Grow into it and make it more permanent or just rent it and have it for a few days or week,” says Nick Brooks, product marketing director Europe Middle East and Africa (EMEA) at Savvis in Reading. Savvis is continually expanding the breadth of its network and will open a new data center in Frankfurt later this year.


“Te established network we have means people can start up very quickly and not have to worry about potential cultural obstacles, such as language barriers if they are trading FX in another region. We have a presence in these markets and venues where people can trade,” says Brooks.


IPC Systems has a “pay-as-you-grow” model, in which the number of markets and currency pairs that a customer has access to increases in line with evolving needs of FX traders. “A trader’s strategy today may just involve currency pairs in the developed markets,


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but at some point, currency pairs in emerging and frontier markets may also be targeted. As business requirements evolve, we can tailor access and services to meet changing needs through Connexus,” says Dibyendu Shekhar.


Tools and infrastructure applications


Added to the benefit of reduced hardware costs is the variety of tools and applications that managed network providers can offer to assist analysis of FX trading firms’ pricing, trading and post-trade data processing activities. For example, pre-trade tools include market data aggregation, research and analytics and cross derivatives pricing. Trade tools include Financial Information exchange (FIX) and Application Programming Interface (API) connectivity to multi- dealer and single dealer platforms and other brokers while post-trade tools include STP, workflow,


aggregation and confirmation matching solutions. “We take clients from pre-trade, where they


analyze that data and make decisions and then use algorithms and smart order routers to reformat that data, and take them to the venues in order to execute those decisions. We take clients from pre-trade to post-trade, underpinning best execution and adding to that on the post-trade services. And we sort out the payments using Radianz Messaging,” explains Foster of BT Radianz & Payments.


Corvil, a provider of unified application and network latency management systems, offers FX trading firms access to CorvilNet, a platform which offers latency analytics with visual latency navigators, focusing upon network analysis, market data and transactions. CorvilNet provides high-speed FX traders with tools to measure the latency of market data distribution, identify and prepare for potential bottlenecks in data and capture historical records of market data performance.


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