Exclusive: Multi-product OTC derivatives continue to evolve as Live Rates Feeds takes price feed from IDEX
“We’re not competing with existing institutional matching engines, instead this is something we’ve built to connect to their platform for our price feed only, at least for now. I prefer to have a thousand partners than a thousand competitors” says Live Rates Feeds CEO Ludovic Vuillier
During the past few months, there has been a massive rush toward genuine multi-product trading environments by retail electronic trading firms, platform providers and integration specialists alike.
Examples of this have manifested themselves recently in the connectivity to exchanges alongside OTC products on one platform.
Direct FX recently entered into a partnership with DriveWealth which has a relationship with ICBC which is now a NYSE member firm. Chinese investors can that way invest in US firms that include Amazon, Apple, Google, alongside Chinese stocks like Baidu and Alibaba, and all traders globally can access listed products on CME.
Saxo Bank continues to enhance its multi-product trading environment which is accessible via a completely open source front end and a prime of prime brokerage solution that consists of a combination of Tier 1 bank relationships as well as electronic communication networks, and thus these firms are leading the advancements that the industry needs to make in order to remain at the forefront of the electronically traded markets.
At the beginning of this year, MetaQuotes, which produces the ubiquitous MetaTrader platform, began to expand its direction toward listed product connectivity, as Just2Trade released an integrated solution based on the MetaTrader 5, bringing within reach of retail customers some of the largest major exchanges.
In total, the company provides access to 9 000 financial instruments: 6 000+ stocks and ETFs on the US stock market, 700+ stocks of Russian companies, RTS, MICEX, stocks and currency futures, as well as direct access to GLOBEX, EUREX, SGX and other exchanges. Besides, stocks and futures contracts on all major European and Asian exchanges are available on request.
Just a day after this came to fruition, FinanceFeeds reported exclusively that as of April 1 this year, this direction would be developed even further with the launch of a live pricing engine for commodities that has been developed for use in retail trading by FX industry specialist Ludovic Vuillier in France.
Mr. Vuillier, who is CEO of Live Rates Feeds, has been in the electronic trading industry since 2003, and has held various positions, as an introducing broker, an investment manager, a sales trainer and a consultant that establishes sales teams and generates leads for client acquisition.
Launching the product today, Mr. Vuillier explained to FinanceFeeds “As you know, retail platforms let you trade currencies, stocks, commodities, and indices, regardless of whether they are listed or over the counter.”
Today, FinanceFeeds spoke to Mr. Vuillier, who explained that the company has partnered with online diamond exchange IDEX in order to gain a price feed for its solution.
“We have built an index for something that is currently not being traded online, plus we have built a live feed but we also went one step beyond. Since b book is a risk which we are happy to help brokers mitigate. We have built a matching mechanism so that when a broker connects our price feed to their platform, it connects with all other brokers connected to us and matches the trades” – Ludovic Vuillier, CEO, Live Rates Feeds
When asked by FinanceFeeds how this solution and trading environment differs from institutional pricing engines and matching solutions such as ICAP’s EBS BrokerTec or Thomson Reuters FXall, Mr. Vuillier explained “This means that each broker can choose to take the risk if they want to, but assuming they don’t, we have the matching mechanism in place.”
“We’re not competing with existing institutional matching engines, instead this is something we’ve built to connect to their platform for our price feed only, at least for now. I prefer to have a thousand partners than a thousand competitors” said Mr Vuillier.
Today Mr Vuillier explained to FinanceFeeds “IDEX is the source for our price feed and we have a partnership with afxants.com to create a diamond trading course, both relationships being exclusive.”
“Because this product is so unique, we are often asked where the source comes from. We are now pleased to announce that Idex Online S.A, one of the industry leaders in the diamond market, provides the source to our feed. Our cooperation is fully transparent as we use their name on all promotional material” Mr Vuillier explained to FinanceFeeds.
“We recently struck a partnership with AFXANTS, the only accredited trading academy in the industry in Europe. Since this product is new for traders, as well as brokers, we wanted to provide as many resources as possible from the start. Traders will be able to take a course in The Diamond Academy and brokers will be able to receive regular analysis updates on the Diamond Index” Ludovic Vuillier, CEO, Live Rates Feeds
We’ve created a strong and solid product here so we’ve carefully chosen our partners to reflect our vision. Our motto is very much “tell me who your friends are, and I’ll tell you who you are” he concluded.
