With growing interest from retail brokerages in the ECN / STP execution model, there is an urgent requirement for more effective liquidity failover solutions. What steps has oneZero taken to address this need?
One of the most sought-after enhancements we made to our technology in 2011 was to provide intelligent routing and failover into our ECN / STP Bridge. Te ability to seamlessly fail over between 2+ liquidity providers was a key development for our existing and future customers. As brokers continue to rely on direct market access for both their rate feeds and execution, it’s critical to make sure that feed is 100% consistent.
Our failover solutions not only provided the alerts and monitoring that our customers were used to, but also a completely transparent process to automatically swap between feeds. Having the ability to transition between liquidity outlets without any disruption to the client is key to achieving the goal of 24/5, 100% uptime and growing a retail business.
Many FX providers are adopting multiple distribution channels utilising desktop, web and mobile devices. What are the advantages of centralising risk and administrative functions in this increasingly complex environment?
At the end of the day, it is demand from traders that drives any initiative in the front-end space in FX. Clients are always in search of more options to enhance their analysis, free them from the binds of their desktop, or enable them to develop more powerful trading systems. Brokers looking to keep up with this demand often underestimate the overhead of maintaining multiple different means of on-boarding clients, servicing clients, and managing pools of client risk. Having an “a la carte” option for trading is an excellent way to bring in new business, but if each platform is managed separately from a feed, risk and administrative standpoint, resources can get spread thin.
We’ve worked with a number of large firms to help take platforms such as MT4 and consolidate risk management, administrative, client on-boarding and cash management into their legacy back-office. We’ve also developed our ARMS back-office system for brokers looking to centralize an existing deployment, either multiple MT4s or a combination of 3rd party and proprietary platforms.
Andrew Ralich
As the FX market continues to grow what have you identified as the next set of technology challenges facing brokerages as they seek to meet regulatory requirements, capture market share and ramp up their trading and IT architectures to meet the low latency requirements of more demanding traders and investors?
Tough the US and Western Europe are approaching maturity in terms of regulation and monitoring of FX, many other parts of the world are just beginning to enact policies specifically targeted at retail brokers. We are currently working with firms in Asia, Australia and Eastern Europe to help identify the best means of adapting to the new reporting, execution and IT outsourcing regulations. In addition to the opportunities that manifest as the Retail FX “wave” spreads across the globe, there are still many challenges to address within the more evolved FX market places. In areas such as the US and UK, firms who traditionally traded HFT systems on equities are being pushed into FX by regulatory changes such as Dodd Frank. Te influx of new latency sensitive systems in the FX space has created demand for routing engines, aggregators, and co-location services specific to true HFT FX. Te “1ms” boundary that was the holy grail for retail FX shops just one year ago is now being lowered to microseconds as more demanding and sensitive clients enter the space. At oneZero, we are poised to meet this challenge with the same technology base that has worked so successfully in retail during the last 2-3 years.
april 2012 e-FOREX | 159
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