FxPro Invests in Next-Generation Infrastructure with Solace Messaging and Web Streaming Technology

Higher Capacity and Performance Key to Meeting Customer Satisfaction Objectives as the Award-Winning FX Broker Expands into New Markets

Ottawa, Ont., February 16, 2016 – Online foreign exchange broker FxPro is using Solace technology to increase the capacity, performance and robustness of the messaging infrastructure that powers its advanced trading platforms and customer-facing interfaces.

FxPro is deploying a combination of Solace Message Router Appliances and Solace Virtual Message Routers to power a wide range of internal and customer-facing applications, including distribution within data centers, over wide area networks and via web and mobile devices.

“Our business is growing rapidly and it is necessary that we continue to offer a world-class trading experience and customer service as we expand our offering to cover more asset classes and geographies, ” said Panayiotis Annivas, CIO, FxPro. “Solace gives us a rock-solid foundation on which we know we can build and grow our business to meet customer demand.”

The new Solace infrastructure replaces multiple previously used technologies, including ActiveMQ, Kaazing and ZeroMQ.… Read the rest

The Electronification of FX Trading; Déjà vu All Over Again

Dices cubes with the words SELL BUY,  one-euro coins and a financThis week, the Financial Times published a little piece of déjà vu in an article about FX trading rapidly moving towards electronic trading. Electronic trading has been around in FX for years, but many banks still rely on voice traders for larger transactions, especially in the $2 trillion spot market. That is changing, however, as recent compliance blunders and violations of customer trust by opportunistic FX traders are forcing change from the top down. The déjà vu part of this story is that it parallels the market making scandals in equities of a decade ago, and the Libor scandals of 2012.

Automation and electronic trading are the obvious end game for all kinds of trading, with the pace of change being determined by the profitability and risk associated with holding on to aging business models. In each asset class, the move will be made as fast as is warranted by customer demand for faster and fairer trades, increased competition, and the costs (both financial and reputation) of regulatory violations.… Read the rest

The reasons HFT is shifting asset classes may surprise you

At Solace, the shift to electronic trading has been at the core of our business in capital markets for many years. We’ve seen a variety of recurring use cases that are now mainstream, specifically for equities. For example:

  • Buy-side firms engaging in high-frequency trading (HFT), either onsite or at a co-location facility.
  • Sell-side firms offering smart order routing or internal order crossing to increase revenue or save on costs of order processing.
  • Exchanges accelerating and enhancing their services to compete with ever more sources of liquidity.
  • All kinds of capital markets participants improving how they handle real-time risk across trading systems, and/or automate middle-office settlement and record keeping.

Reg NMS and the Explosion in HFT

The path to these systems began with decimilization of equities in 2001 which dramatically increased electronic trading. Then in 2007, Reg NMS opened the door for many more competitors to supply liquidity, which created a n-way set of very-short lived arbitrage opportunities across trading venues.… Read the rest