ingenium’s executives present new solution for liquidity management at TradeTech FX USA 2023

Rick Steves

Benjamin Feist and Stephen Dispenza attended TradeTech FX USA 2023 to introduce “the world’s smartest liquidity management assistant for optimizing FX and Crypto trading”.

North America’s biggest FX gathering of the year took place on February 22-24 at The Diplomat Beach Resort in Florida, USA.

More than 600 executives – including key regulators, buy-side, sell-side, and technology vendors – attended the conference this year for panel discussions, hands-on workshops, and networking opportunities.

FinanceFeeds was there to cover the event. Editor-in-Chief Nikolai Isayev had the opportunity for a quick chat with Benjamin Feist and Stephen Dispenza, respectively CEO and COO of ingenium, a promising challenger in the FX trading technology business.

ingenium’s smart approach helps clients to better monetize their flow.

Backed by data, ingenium offers a way to “revolutionize FX and cryptocurrency trading” as it offers “the world’s smartest liquidity management assistant for optimizing FX and cryptocurrency trading”, a bold claim stated on their website.

“We want to answer questions a liquidity manager might have in his daily routine”, CEO & Founder Benjamin Feist said about the solution. “It helps you treat your liquidity providers the way they expect you to treat them” and “helps you monetize incoming flow much better than most of our peers do. We provide answers and not just charts. It’s a bold statement I agree but we have the means to back this up.”

Stephen Dispenza added that the product has merit, and it will certainly make a difference to clients who deploy it. “I know from my experience in the broker and ECN space, that managing expectations of makers and takers is critically important”.

Dispenza is an industry veteran with over 30 years of experience, including roles as Managing Director of Institutional FX at TradeStation and Managing Director of Sales at State Street’s Currenex.

ingenium born out of need to manage and avoid leakage.

ingenium offers a plug-and-trade tool for ultra-low latency trading and analytics with connectivity in LD4, NY4, SG1 and TY3. Additional data centers can be added if needed.

“Actually, it was never our intention to build something for third parties”, Benjamin Feist admitted. “We built trading companies previously. When we faced issues, we tried to find solutions. We wanted to be better takers, learn how to deal with leakage and how to prevent it from happening, and how to monetize the flow better.”, he enumerated. “We weren’t satisfied with the products out there and decided to build our own. As a result, we found we no longer needed a third party.”

Feist is the technology expert behind the company. Ten years ago, he started to build trading companies and developed machine learning algos for trend prediction, but never intended to work on the full lifecycle.

“If solely focusing on markouts worked, we would all be millionaires.”

ingenium’s Smart Routing Assistant helps clients monetize their flow better, but how? “What we do is allow clients to configure their own streams as they wish. We give clients flexibility in the logic offered in how they attract and monetize the flow by internalizing or leveraging smart hedging methodologies. We also let clients partner with their LPs who can control configurations on their end as well.”

“This ensures transparency and a trustful environment. Leakage is not possible. Violation of full amount is not possible”, he continued, adding that at the same time, ingenium allows clients to weed out good flow from bad flow.

“Today, this is normally done by markouts. If that worked, we’d all be millionaires, but that’s not the case. Markouts only give you an indication and might not be the only instrument to weed out good flow from bad flow””, Feist added, as he explained that markouts are only the first step in the ingenium process. “Then we categorize flow further through smart execution calculations built into in the system. They are easy to use, accessible through the GUI. And we can do this process a little bit smarter and more efficient, he said. This would allow the client to monetize the flow better.” At the inception of a trade, Benjamin Feist continued, ingenium’s Smart Routing Assistant tells clients whether they should internalize the flow. And, if so, how.

ingenium showed up at TradeTech FX USA 2023 as a new full stack solution for FX and cryptocurrency trading with an ambitious proposition for clients: ultra-low latency, combined with smart recommendations and quantitative analytics capable of maximizing profit while reducing risk and costs. We look forward to following the firm’s next steps within the FX trading industry.

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