FXecosystem Inc., a provider of outsourced connectivity services to the FX market, has just announced that it extended its international network by adding connectivity to the Moscow Exchange (MOEX).
Founded in 2010, the firm allows banks and brokers to outsource all or part of their connectivity and infrastructure needs. Among its clients are many global institutional FX trading banks such as Citibank, Bank of America and Crédit Agricole.
FXecosystem also offers an outsourced solution for low latency network connectivity, co-location, proximity hosting and fully managed services for retail MT4 FX brokers via a partnership with Gold-i. The offering suits new brokerages, as well as firms that don’t have a server room or in-house IT support yet, and enables brokers to have a faster and more reliable MT4 offering without the need for in-house support, regardless of their location around the world.
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This latest development from FXecosystem means that its clients can benefit from having a single FX connectivity provider in London, New York and Moscow, resulting in reduced latency and generating cost efficiencies. It is meant to ensure that banks and brokers with connectivity in the UK or the US, wanting to trade rubles, can access MOEX more quickly and efficiently.
James Banister, CEO of FXecosystem commented, “Our expansion to include the Moscow Exchange is part of our strategy to widen our network as we continue to grow in order to lead the market in terms of seamless FX connectivity. It also underlines our focus on offering scalability for clients as they expand into key FX markets. By extending our ecosystem, we continue to change how the market connects, replacing the need for multiple leased lines to multiple counterparties.”
Igor Marich, head of FX at MOEX, said, “We are delighted to be partnering with FXecoystem. Moscow Exchange is the leading exchange in Central and Eastern Europe, with the world’s most liquid cash FX platform for ruble currency pairs. MOEX’s FX market records RUB/USD trading volumes of more than USD 20 billion every single day, with other liquid pairs such as RUB/EUR and RUB/CNY also available.”
He added, “Through its clearing centre, MOEX acts as the central counter-party to handle risk. With the ability to access our FX market through local execution brokers as well as international clearing members, FXecoystem’s clients now have direct access to this liquidity pool.”