FOREX TECHNOLOGY
enable its clients to handle rapid shifts in market data volumes, beyond typical volume rates. Te BBS service is delivered through its Secure Trading Extranet (STE), which has been designed to ensure high levels of throughput to support direct market access, algorithmic trading, along with the provision of FX market data. BBS also has provisions to protect customers’ connectivity to liquidity sources. “We have a blended proactive approach. Customers need access to more bandwidth on a sporadic basis. But the ability to increase bandwidth on a trending basis is also important,” says Schwartz.
IPC empowers its clients to reduce operational risk, achieve best execution and drive efficiency by providing them with the capability to view bandwidth utilization, better manage, balance and increase performance throughout the network infrastructure and proactively plan capacity. Shekhar of IPC Systems says that bandwidth rates in Asia have increased significantly compared to Europe and North America partly due to the rapid growth in trading and central clearing of non-deliverable Asian FX forwards.
“Connexus provides FX traders with the scalability and flexibility required to generate alpha in today’s rapidly changing FX markets,” says Shekhar.
Speed – and price – kills
Te growing global reach of FX markets and increasing number of venues will make data costs rise substantially for buy side firms that choose to have their own primary and back up data centres located in each different jurisdiction. Buy side firms that switch from obtaining their FX market data feeds at a private data centre to enlisting the services of a managed network connectivity provider – which can pump a variety of data feeds across a global web of co-location sites – can significantly reduce data costs. Te managed network connectivity providers with the largest global reach and established financial community hubs are best placed to use such economies of scale to reduce the FX data costs of their customer base, providing speedy data services.
FX’s unique place as an asset class whose active venues follow the rising and falling sun makes the proposition offered by managed network connectivity providers with a global reach all the more compelling. Having the capacity to interconnect data feeds across different trading hubs is a vital service for FX trading firms deploying increasingly sophisticated strategies, which are more frequently being linked with different asset classes.
Foster of BT Radianz & Payments emphasises that the architecture the managed services provider has in place is highly attuned to FX firms need for high- speed data services, which can migrate to the highest concentrations of liquidity. Such services enable FX firms to use the data to instantly assess the risk and return exposure latent within myriad FX transactions. “We pick some of the key market centres and we put points-of-presence there to really start linking up those specialist centres so you have optimal movement within and across the data centres around the world. Tis optimises speed and decision-making and processing time,” she says.
Nick Brooks
“Bandwidth has gone through the roof and clients want to know that they can get it. More and more applications are bandwidth hungry,”
124 | april 2012 e-FOREX
Te focus of managed network connectivity providers in providing the necessary headroom to cope with spikes in trading volumes is also an increasingly valuable service in FX markets exposed to the volatile aftershocks of the latest events that take place in a seemingly perpetual global debt crisis. Events such as those stemming from Greece’s efforts to restructure its debts can result in rapid changes in FX prices and generate high volumes of data traffic that require the most resilient levels of bandwidth to cope. Te biggest – and strongest – look best placed to survive and prosper in a world where FX trading firms’ need for data appears insatiable.
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