European brokerage Admiral Markets has updated its offering with an advanced Electronic Communications Network (ECN) technology solution. The new technology has also been adopted by Alpari and comes from technology company AMTS Solutions.
The development team leading the effort is headed by Dmitry Rannev, who founded the company after running the ECN offering of another forex broker – GKFX.
With the popularity growth of high-speed ECNs the product delivered by Admiral Markets is capable of handling up to 30,000 orders per second. The company claims, that the execution speeds substantially surpass a typical MT4 offering with order execution within the ECN occurring within 3-4 ms and the trader receiving confirmation within 50-100 ms.
The system is multi-modular by design and according to Admiral Markets within its six months of testing has been very capable of handling extreme events such as non-farm payrolls (NFPs) or other important market moving news.
eToro’s Dylan Holman on Introducing Bitcoin to the Premier LeagueGo to article >>
With all the order flow processed within the ECN, the advantage that brokerages are getting is that they still are able to use MT4 as a front-end therefore eliminating complications for their clients.
Speaking to Finance Magnates the CEO of the company Dmitry Rannev, explained, “The execution logic of our ECN is based on fair trading principles: on the one hand it prevents brokers from ‘sharp’ and ‘toxic’ traders who benefit from the MT4 shortcomings rather than from market strategies, and on the other – it provides fast and steady execution for all clients.”
The platform delivers a Level II Market Depth Application for MT4 terminals that reveals to traders the full aggregated order book from liquidity providers and clients’ orders. With the convenience of an ECN platform combined with an MT4 front-end, the solution targets a wide range of the market for retail FX brokers.
The same technological solution is already at the core of the ECN offering that Alpari started delivering to the market this year.
Admiral Markets is one of the participants at this year’s Finance Magnates’ London Summit which will take place at the Brewery in London on the 2nd and 3rd of November. For the latest technology offerings from major players in the industry make sure to check the expo area.