StoneX deploys Chronicle FIX engine to enhance equities trading

Rick Steves

“Our choice of Chronicle was influenced particularly by the enhanced features and functionality delivered in its FIX software, as well as the company’s nimble and flexible approach to providing its services.”

StoneX has deployed Chronicle’s FIX engine to replace incumbent trading technology in order to enhance its equities trading performance.

The trading giant has selected Chronicle for its speed, flexibility, and reliability, according to Thomas Moore, Managing Director, Head of Equities Trading at StoneX.

The Chronicle FIX engine is said to meet “the most stringent performance and resilience requirements of many of the world’s leading FX banks”.

The solution powers trading with exceptional low latency, high throughput (c.1m messages per server/second), rule-based routing for ease of scalability, multi-level security and a robust design supporting uninterrupted trading, according to Chronicle.

The difficult decision of replacing existing systems

Thomas Moore, Managing Director, Head of Equities Trading at StoneX, commented:“It’s always a difficult decision to replace existing technology. Our choice of Chronicle was influenced particularly by the enhanced features and functionality delivered in its FIX software, as well as the company’s nimble and flexible approach to providing its services. Our customers will benefit particularly from the speed, reliability, and flexibility overall of Chronicle’s solution.”

Peter Lawrey, Chief Executive Officer of Chronicle Software said: “We are delighted that our software has been selected by StoneX and look forward to working with them to deliver an enhanced customer experience.

“Our approach to software development supports and facilitates an increasing ‘buy to build’ trend in financial services. We recognise the challenges faced by market participants in integrating old and new technologies, and offer customers maximum flexibility in respect of Chronicle software licensing and solution implementation.”

StoneX enhanced self-service OTC Platforms for commodities trading

Last year, StoneX Markets enhanced its self-service OTC Platforms for commodities trading thus providing a single, digitized offering from which to fully access, manage and execute futures and options trading (via the affiliated FCM, StoneX Financial Inc.) as well as access to OTC markets (via StoneX Markets LLC as a counterparty).

Clients can now receive market intelligence, risk measurement, scenario analysis, and market execution all in one place. StoneX Markets’ self-service OTC Platform has been designed to provide direct access to its OTC markets, often considered opaque and complicated to novice investors, so that it can be leveraged by all users of commodity options products.

The digital platform includes the firm’s proprietary Structured Product Online Calculator (“SPOC”), Strategy Option Solver (“SOS”) and Options Calculator (“OC”). When combined and integrated within StoneX Markets’ broad range of service offerings, including Market Intelligence, Accumulator Manager, and My StoneX provide a single, digitized self-service OTC Platform.

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