Clients of FX aggregation specialist MarketFactory have received access to aggregate quotes of the Moscow Exchange’s FX market via Whisperer, the company’s ultra-low latency API that connects to the entire FX market.
The cooperation between the two platforms will enable Whisperer clients to aggregate FX quotes through an even greater liquidity pool, which now offers access to 77 venues.
The accord represents a win for both parties – for Moscow Exchange (MOEX), it will broaden its sales channels, allowing access to thousands of market participants and institutional investors. MarketFactory’s clients will also benefit from access to Russian rouble without having to allocate scarce credit lines to hedge the RUB.
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MarketFactory’s FX aggregator provides a single application programming interface (API) to connect institutional investors, funds and corporations involved in FX operations to multiple banks and electronic communication networks (ECNs).
Moscow Exchange (MOEX) is the largest exchange group in Russia and Eastern Europe by trading volumes and number of clients. Last month, it saw FX market ADV of RUB 1.41 trillion ($24.9 billion). MOEX will provide it with streamlined access to USD/RUB liquidity and its broader exchange capabilities.
Commenting on the news, Darren Jer, CEO of MarketFactory, said: “As the FX market evolves, our clients want more connectivity options and were requesting the ability to trade the Russian ruble easily. At MarketFactory, our customers come first and we always aim to give them what they want.”
”We welcome MarketFactory as a new global technology and connectivity vendor of the Moscow Exchange. Cooperation with MarketFactory will help us to realize our strategy of attracting international clients to the Moscow Exchange FX market and strengthen our position as the largest and most dominant liquidity platform for Russian ruble foreign exchange trading,” added Igor Marich, member of the Moscow Exchange management board.