Leading market data provider launches new solution for FX connecting multiple participants to enhance connectivity and liquidity.
This service enables users of electronic FX trading to connect with multiple liquidity providers and trading platforms globally. It simplifies the FX trading experience and improves performance and efficiency of participants in this asset class. With PrizmFx, MarketPrizm now offers cross-asset coverage for equities, derivatives, commodities and FX markets.
PrizmFx provides ultra low latency connectivity and collocation hosting services to major FX ECNs and single bank platforms. Clients can be co-located next to the matching engines in New York, London and Singapore to access these platforms locally in their region and/or can use MarketPrizm’s ultra low latency network infrastructure, PrizmNet, to get access into these platforms from their own locations or from any one of MarketPrizm’s exchange locations in Europe and Asia.
Comprised of over 30 ECNs and bank direct liquidity pools, the FX market is increasingly characterized by electronic and algorithmic trading among hedge funds, banks and proprietary trading firms. Global access costs have increased dramatically due to market fragmentation, connectivity and co-location needs in multiple locations. With PrizmFx, clients can simplify their access to the multitude of platforms, co-locate close to each matching engine, and use a single connection for price discovery and execution.
Tanuja Randery, Chief Executive Officer, MarketPrizm, said: “The world of FX trading is changing rapidly with continued growth in electronic and algorithmic trading volumes, the opening up of the market to new entrants, and further regulatory initiatives. We believe that the industry is now at a point in its development where PrixmFx can make a real difference.”
Tanuja Randery continued: “MarketPrizm is well known as a provider of market data to the equity and equity derivatives markets. But we are growing our offer both geographically as well as by asset class most recently with the launch of our commodities platform and now PrizmFx is the next step in providing cross-asset class coverage for our clients globally.”