Chronicle announces FIX connectivity with FX and Crypto OTC liquidity providers via Switchboard

Rick Steves

The FIX engine by Chronicle can be used across multiple asset classes including Equity, FX, and Cryptocurrencies. The firm already provides connectivity to the EBS Live Ultra and Refinitiv SBE through the Chronicle FIX API.

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Chronicle Software has expanded its FIX connectivity providing simplified access to additional pools of FX and Cryptocurrency liquidity.

The expansion came on the back of a partnership with Reactive Markets, which allows Chronicle to offer their clients out-of-the-box integration with the Reactive Markets institutional trading network, Switchboard.

The network gives liquidity takers free, instant access to fully disclosed pricing from a rapidly growing list of FX and Cryptocurrency OTC liquidity providers. Liquidity providers using Chronicle FIX can scale their distribution through Switchboard by pricing to any taker on the network.

Peter Lawrey, Chief Executive Officer of Chronicle Software, commented: “We are delighted to announce our partnership with Reactive Markets and further enable our clients to consume liquidity and execute against all their bilateral liquidity providers with microsecond latency. We continue to see escalating growth in FX, including Cryptocurrencies, with the shift to more institutional trading and resultant requirement for robust trading software with reduced total cost of ownership.”

Phil Morris, CEO of Reactive Markets, said: “Chronicle is a market leader in high-performance FIX solutions so we’re excited to offer their clients the ability to trade with all their FX & Cryptocurrency counterparties via Switchboard. There is zero fee for liquidity takers on Switchboard so coupling the Chronicle FIX platform with our cutting edge institutional trading network is a highly cost-effective way for clients to trade.”

The FIX engine by Chronicle can be used across multiple asset classes including Equity, FX, and Cryptocurrencies. The firm already provides connectivity to the EBS Live Ultra and Refinitiv SBE through the Chronicle FIX API.

In June, UOB deployed Chronicle Software’s eFX solution for its electronic foreign exchange (FX) pricing and trade engine. This has provided UOB the ability to take advantage of reduced latency via co-location connectivity to improve price discovery and to enhance pricing capability.

UOB now offers customers in ASEAN and across its global network access to more competitive FX pricing. The FX pricing engine, which is located in Singapore, also supports the country’s ambitions to become an e-trading FX hub in the region.

A prominent North American exchange, which chose to remain anonymous, has recently deployed Chronicle’s FIX engine to provide low-latency connectivity to their clients.

The operator chose Chronicle FIX for its superior engine performance, microsecond latency, and differentiated commercial model. The fully-featured engine achieves outstanding performance and increased speed by utilizing, among others:

The principle of zero-copy to eliminate unnecessary garbage collection
Reduced runtime code size for efficient CPU cache usage
Smart ordering for optimal parsing
Peter Lawrey, CEO of Chronicle Software said: “In the past year we have signed multiple brokers, banks and exchanges in Europe, the US and Asia, and we are delighted to add this important exchange to our client base.” He added “Chronicle FIX is acknowledged as the fastest Java-based FIX Engine available on the market today, and our solutions enable our clients to benefit from increased throughput, low latency and operational flexibility. Access to the source code, underpinned by expert engineering, enables our clients to maintain their optimal solutions and reduces total cost of ownership”

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