GTX to Launch London and Tokyo Matching Engines

New Data Centers to Improve Regional Access, Create Single, Global Order Book GTX, the institutional foreign exchange trading arm of GAIN Capital Holdings Inc., will launch a new matching engine for its flagship ECN in London October 15, 2016. A Tokyo-based matching engine is planned to come online within 90 days. At launch, liquidity on […]

Japan

New Data Centers to Improve Regional Access, Create Single, Global Order Book

GTX, the institutional foreign exchange trading arm of GAIN Capital Holdings Inc., will launch a new matching engine for its flagship ECN in London October 15, 2016. A Tokyo-based matching engine is planned to come online within 90 days.

At launch, liquidity on the LD4 matching engine will be supplied by more than 10 leading bank and non-bank liquidity providers.

The new matching engines, along with GTX’s existing matching engine in New Jersey, can all be accessed by clients connected to any of the locations. Clients may choose whether to interact only with local liquidity for faster response time, or to obtain best price and depth against the global order book. Further, GTX’s global order book structure will help satisfy best execution mandates for asset managers and other market participants subject to them.

“We are thrilled to launch new data centers in London and Tokyo,” said Vincent Sangiovanni, CEO, GTX Bermuda Ltd. “These launches will enable us to better serve our growing, global clientele, but also do so through a single global order book, which is ideal for the vast majority of our asset manager and bank buy-side clients as well as our bank and non-bank liquidity providers.”

GTX’s ECN is optimized for buy-side clients to trade on the best available prices with ongoing, active monitoring of trade matches and execution quality. This paradigm enables pricing from regional matching engines to be consolidated into a central order book.

GTX’s current matching engine is housed in Equinix’s NY4 data center. The new matching engines are housed in the company’s LD4 and TY3 data centers respectively.

Read this next

Retail FX

Malaysia regulator exposes OctaFX clone, shady FB profiles

Malaysia’s financial regulator today warned online investors about the risks of following investment tips made on social-media platforms.

Digital Assets

Crypto trading volume spikes at Swiss bourse amid FTX collapse

The shockwaves from the historic collapse of Sam Bankman-Fried’s crypto empire are still being felt across the industry, but some trading venues are actually doing better because of it.

Executive Moves

CMC Markets adds Camilla Boldracchi to institutional sales

UK’s biggest spread better, CMC Markets has promoted Camilla Boldracchi to take on an expanded role within its institutional sales desk.

Institutional FX

FXSpotStream reports $1.48 trillion in monthly volume for November

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for November 2022, which moved higher on a yearly basis but reflected weak performance across executed trade volumes when weighed against the figures of the prior month.

Retail FX

Interactive Brokers’ client activity drops 30% YoY

Interactive Brokers LLC (NASDAQ:IBKR) saw 1.95 million daily average revenue trades, or DARTS, in November 2022 compared to 1.96 million transactions in the prior month.

Digital Assets

The rise of Crypto ETPs in traditional exchanges as crypto winter deepens

Institutional investors are increasingly looking at traditional regulated exchanges as their first route into digital assets amid market turmoil caused by the crypto winter and the collapse of several big names within the space, including FTX. Acuiti and Eurex surveyed 191 buy and sell-side firms on their views of the digital assets markets in order […]

Digital Assets

TP ICAP’s crypto arm receives FCA’s go-ahead

UK interdealer broker TP ICAP has received a regulatory go-ahead to launch its cryptocurrency services in the UK. The bid shows that the recent collapse of FTX exchange has done little to damp the interest of big names in running their own crypto business.

Industry News

Coin Signals founder to pay $2,847,743 after prison sentence over crypto Ponzi scam

The U. S. District Court for the Southern District of New York has ordered Jeremy Spence, founder of Coin Signals, to pay $2,847,743 in restitution to victims of a fraudulent virtual currency scheme.

Digital Assets

CME Group goes DeFi: Reference rates and real-time indices of Aave, Curve, Synthetix

“These rates are designed to provide traders, institutions and other users transparency and price discovery across a much broader range of tokens, allowing them to confidently and more accurately value cryptocurrency sector specific portfolios and manage price risk around various blockchain-based projects.”

<