FXecosystem takes FX market by storm

London - 23 May 2011

FXecosystem, a bespoke network solution specifically designed to ease fragmentation of connectivity in the FX market, today announced record numbers of market participants have signed up.

Within the first three months of 2011, more than 30 key market participants have connected, including top 10 banks, brokers, ECNs, vendors and hedge funds. This has expanded the already substantial community of participants and now includes major sell-side names such as Citi, Barclays, Credit Suisse, EBS, Hotspot, Currenex, as well as buy-side clients such as FX-Concepts.

Whilst recent advances in trading technology have enhanced price execution and data discovery in FX, until now that delivery has taken place using a 20+ year old legacy telecom infrastructure, which was effectively a ‘spaghetti’ of circuits. FXecosystem offers an easy-to-implement, affordable network solution which was designed specifically to ease that fragmentation of connectivity - enabling lower latency and more efficient trading than currently available from telecoms or extranet services, while at the same time leveraging existing data centre infrastructures.

By connecting to FXecosystem’s network, clients benefit from fast, easy access to an ‘ecosystem’ of top market participants. Kelly Adams CTO, FX-Concepts agrees, saying, “FXecosystem has enabled us to move to a faster and more efficient connectivity solution than we have had before. They assisted with the implementation details and now manage most aspects of our connections for us - with much faster turnaround and a more affordable alternative than other solutions in the market. Because they focus on FX exclusively, FXecosystem was a perfect fit for us."

John Farrell, Global Head of Sales at FXecosystem says, ”FXecosystem has been designed to solve a problem that has plagued the FX market for a long time – latency-ridden, expensive and unreliable connections that have hampered participants’ ability to truly take advantage of technology enhancements in price execution and data discovery. We had a very strong Q1 in terms of the number of clients onboarded, and Q2 is already showing to be as strong in terms of client numbers. We are delighted that FXecosystem is fast becoming the connectivity solution of choice for the FX market.”

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