It’s hard to choose in which manner and of what shall we speak on the front page. In case if you’re reading this text you, most surely, already know everything about Forex, trade automation, about “robots”, Banks liquidity, and you are well informed about such instrument as Book. Nevertheless everything has its place, as well this front page and we shouldn’t leave it empty.
“FX Aggregator” (hereunder referred to as just the “Program”), which name represents its main purpose quite well – it aggregates (interesting that this word in Russian has only two “g” – агрегация). Once one “highly respected Bank” asked us to unify all trade systems of its all Forex counteragents in one screen. For that time (around 2007) the list of Bank’s liquidity providers wasn’t exceeding the number 15, but even such amount required us to apply the minds and services of five persons and fifteen monitors. This was one side of the problem. Another side was that
the clients list was growing rapidly – that were all the people and organizations that were receiving liquidity from the Bank. And the complexity of this scheme was complicated even more by the necessity to have only one Decision Making Unit. The question “how to cover Bank’s currency position?” sounds more like an ideological one, rather than programmers; however the Program was required to provide an ability to answer that question in the most convenient form.
Thus at that point we were seeing a silhouette of a technical design specification of the Program. Please don’t worry, I’m not going to describe the whole technical specification here, especially that it’s not yet completed, and, I believe, it will take more time to complete than for the Program itself.
So, the first step was to unify all quote streams from all liquidity providers in one Program. The second step was to form a result in pleasant and familiar shape to an eye of all the busy bees of the stock and exchange markets - the quote Book. The third step was to add client orders into the original Book mixing their requests with the others. The forth step was to make an unsophisticated algorithm that will be automatically making deals in that very order Book, adding a small commission on its way (naturally!). The fifth step was to create and keep margin control rules and report all deals in the Bank system.
That was the original technical design of the Program 8 years ago. The program worked out well and the Bank was actively introducing its activities to it. As the list of Liquidity Providers grows, the number of adapters in the Program increases. Thank God that the most of LPs are using a well-known on a financial market FIX protocol, this was making our work essentially easier, nevertheless there always were special cases of its’ interpretation. It’s 2015 now and the list of our client looks like this.
After finishing off the basis of the Program, we began struggle over increasing the Program workflow speed. Years since several programs like our appeared at the market. All of them were trying to excel our Program in its signature characteristic – the speed. That’s why every new feature or adapter is being tested by its stream processing speed. The result that was obtained since the initial development of the Program is 1000 (thousand!) deals per second, and it’s our minimal speed limit, we believe that there would be nothing to do in our sphere of business with a worse result.
It’s not a secret to anyone that the main amount of the deals today is made by “robots”. And we are fine with that. Such robots are made with only one purpose – to be the first one to take the best quote from LP, they are not interested in authenticity of the stream, and no time is wasted on margin rules for them. In spite of such a ferocious trading style, we cannot ignore them, as they are the most numeral class of Banks clients. So we are ought to conform to their speed requirements. The Program is capable of that as well, i.e. we are using the very same FIX to integrate automated trading instruments.
The today’s version of the Program – is a fully-functioning instruments for Banks to trade and account financial transactions. An important feature of the Program is that it has various strategies that can be applied to each client individually. The program can be operated by one dealer.
for your attention,
Using FX Aggregator system for trading at international financial markets, you get additional benefits, including: high liquidity, flexible environment, fast execution, FIX API, different deal modes — depending on personal preferences and current market situation, the trader can use automatic orders designed for different speeds of execution. "Click and Deal" mode allows to place order with one click, depending on the place you click in the deal window you can set the order at a better price, better volume or at market price with preset slippage settings.
FX Aggregator system is a full-scale solution for organizations providing services at the foreign exchange market (Forex). FX Aggregator can be used for Prime Brokerage purposes with the automatic addition of broker commissions in the market rate. High liquidity, diversity of quotes providers give the necessary 24 hours a day safe dealing.
In addition, FX Aggregator system allows to: monitor the status of customer's margin accounts, opened positions, limits and loss limits for each counterparty...
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