Binary Market Data Protocols Complements GTX Offering

The offering extension will reduce data latency for liquidity providers and algorithmic investors.

The division housing GAIN Capital’s institutional FX arm, GTX, announced the launch of live market data binary protocols. All current and new customers of the electronic communications network (ECN) trading platform will be able to use the service at no additional charge.

The decision to expand the existing offering is in response to the growing demand of investors that use algorithmic strategies and market makers, aiming to provide more robust liquidity and reduced data latency. This will allow for a significant reduction in memory usage during the conversion of market information and shorten the processing time, speeding up access to ECN markets.

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Binary market data protocols will expand the utility of the GTX ECN to algorithmic traders

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As reported by Steve Reilly, Head of Liquidity at GTX, in a recent official statement on the announcement, “We are pleased to provide live market data binary protocols to our most data intensive market participants. Binary market data protocols will expand the utility of the GTX ECN to algorithmic traders, with the goal of providing more robust liquidity to all market participants.”

Binary protocols adopt GTTP proprietary binary protocol that include the ability to choose between Transmission Control Protocol (TCP), User Datagram Protocol (UDP) and precise timestamps. GTTP relies on a new framework, which is currently in the process of standardization by FIX Protocol Limited.

The official press release informing about the launch of high-speed binary market data protocols also provides an update of trading volumes. GTX reported highest year-to-date (YTD) turnover, at levels of $17.8 billion (29 January 2016). The result was achieved thanks to $3.1 billion executed by the swap dealer on an agency basis and $14.6 billion ECN volume.

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