Silicon Valley-based Integral Development Corp., a provider of end-to-end electronic trading platforms, has introduced a new set of features to the company’s Open Currency Exchange (OCX).
To address execution speed challenges, Integral announced new ultra-low latency hardware upgrades providing 80 microsecond round trip acknowledgement times. The upgrade also incorporates advanced algorithmic trading technologies into the exchange.
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Another major selling point is the integration with Integral’s BankFX, MarginFX, and InvestorFX offerings.
The OCX brings a wide spectrum of FX market participants into a single integrated network of liquidity, where they can trade with each other. Clients of the OCX pay a monthly fee for access to the exchange, instead of per-trade fees. Since the deployment of the platform in 2015, Integral has been working on several enhancements which bring major changes for existing clients of the company that use the OCX, and which could also attract new customers.
Commenting on the announcement, CEO Harpal Sandhu said: “The modern exchange needs to maintain the performance of a central limit order book while preserving the flexibility and diversity of OTC markets.” He added, “Clients using Integral’s OCX private matching engine actively trade 208 currency pairs including EM, metals, energy and indices, in New York, London, and Tokyo all with near zero latency – that is how they achieve best execution.”