- Connectivity – API access to facilitate the flow of data into and out of an FX platform is essential. Open access to static, historic and real-time data using standardised methods, such as REST or FIX, allows for easy integration to peripheral technologies including CRM, affiliate management software, social trading platforms and algorithmic trading interfaces. An FX platform that does not provide open API access to data and core functionality makes collaboration with other systems very difficult and would mean that all new functionality would need to be built as a closely-coupled extension of the core platform.
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- Liquidity – I would expect to be able to choose the liquidity sources that best suited my business with the ability to be able to add and remove liquidity providers as my business developed.
- Hosting – Would I chose a Software-as-a-Service solution or look to host my trading infrastructure in-house? Despite the additional financial burden and technical expertise required to run my own IT infrastructure, I would want to host my own platform and take full responsibility for managing and securing my own data.