The popularity of points of presence among institutional FX firms as a means of greatly improving connectivity via a direct connection is becoming widespread in Europe, as demonstrated by today’s announcement by London-based CFH Clearing that it has selected FXecosystem as its connectivity provider.
Points of presence are in widespread use in North America, where dedicated connections between assorted executing venues, datacenters and market participants have been facilitated by this means for quite some time, however, European FX companies, liquidity providers and prime brokerages are now showing a preference for this means, with links established so far this year within cities such as Moscow, London, Paris and Frankfurt.
Expansion On The Agenda
In this particular circumstance, CFH Clearing’s appointment of FXecosystem has been carried out in order to provide a point of presence at the Equinix LD4 data center in Slough.
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According to CFH Clearing, the agreement is intended to enable CFH Clearing to offer a wider range of liquidity providers to its clients, which the firm expects to leverage as a means of reinforcing its position as a premier institutional Prime of Prime broker, facilitating interbank access to the professional space and enhancing its ClearVision suite, to which the company added additional products last month, aimed at many different business models which operate within the FX industry.
Nick Mortimer, Head of Prime Brokerage and Clearing at CFH Clearing made a commercial statement regarding the alliance: “Up until now, we have connected to bank pricing streams on a direct basis.
“In line with our expansion plans as a Prime of Prime provider, we were looking for a cost effective solution to allow fast and effective connectivity to new bank feeds, to enhance our Prime of Prime services, powered by ClearVision. We were impressed with FXecosystem’s technical expertise and global reach and selected FXecosystem’s Meet-Me-Room (MMR) solution,” he continued.
“This will benefit us going forward as we move into other location around the world,” concluded Mr. Mortimer.
James Banister, CEO FXecosystem, further added: “We are delighted to welcome CFH Clearing whose innovative FX products enhance our MMR offering. Our network connectivity expertise provides CFH Markets with ease of connectivity with all its banks and trading partners in LD4 in London. It allows for quick scalability for CFH Clearing as they continue to grow globally.”