NEW YORK, NY â February 27, 2006 â GigaSpaces Technologies, a fast-growing provider of new generation infrastructure software solutions, announced today that FXall, the worldâs leading online foreign exchange platform, has selected GigaSpacesâ grid infrastructure.
FXall offers an end-to-end solution for foreign exchange trading, covering execution, workflow and post-trade services, to clients including asset managers, active traders, banks, broker-dealers and corporations. Clients can access more than 60 sources of liquidity for tight prices in spot, forwards, swaps, and non-deliverable forwards, in more than 300 currency pairs.
FXallâs trading volumes have grown every quarter since trading began on the platform in 2001, with annual volumes increasing by some 40% in 2005. Daily volumes have exceeded $43 billion. The system has the capacity to handle a further dramatic increase in volumes, while maintaining its high levels of performance. In order to achieve this, FXall utilizes a distributed infrastructure based on open industry standards â specifically JavaSpaces and its GigaSpaces implementation.
âPerformance is critical to FXall and GigaSpaces has proved to be an excellent fit with the existing FXall infrastructure,â said Neill Penney, Global Head of Product Strategy.
âGigaSpaces enables FXall to run different parts of applications on different machines, which makes the applications even more scalable and fault tolerant,â said Doug Rich, VP Sales Americas at GigaSpaces. âThey can add or remove resources as needed and still keep the applications running.â