Velocimetrics Expands Real-Time FIX Engine Monitoring for Brokers

If a FIX engine is experiencing problems, brokers might transmit uncompetitive prices or provide delayed quotes or order placements responses.

Velocimetrics, a business flow performance monitoring technology provider, which counts among its clients City Index and Saxo bank, today announced an ability to assess the live performance of price information sent between FX brokers and their trading partners via FIX and other protocols. The solution promises to instantly alert brokers to issues impacting market data quality or client communications that could negatively impact trading profitability.

If a FIX engine is suffering connectivity issues, other technical problems or not publishing accurate prices because of internal issues, the results can be costly. Brokers could find that they are publishing uncompetitive prices or providing clients with delayed responses to requests for quotes or order placements.

By continually monitoring incoming pricing streams, Velocimetrics says its solution can instantly identify if any individual stream is missing or if there are abnormal pricing tick delays on a given stream. It can also assess the frequency that trading messages are transmitted and received between the broker and its clients, and raise immediate alerts should communication levels unexpectedly decline or if response times exceed limits.

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Paul Spencer, COO, Velocimetrics
Paul Spencer, COO, Velocimetrics

Commenting on this announcement, Paul Spencer, COO at Velocimetrics stated: “FIX engines play a vital role in FX trading, so being able to instantly detect degradation in the quality of communications traversing these fundamental systems has the potential to increase trading accuracy and generate significant cost savings for the FX broker community.”

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