FXecosystem, a comprehensive provider of outsourced connectivity services to the foreign exchange (FX) industry, has extended its capabilities and connectivity into the fixed income market via the launch of its Bondecosystem platform, according to an FXecosystem statement.
The new offering is important as it represents FXecosystem’s first foray into the bond market, which will be available to the group’s clientele worldwide. As a result, FXecosystem’s Bondecosystem will help enable bond traders to tap into the group’s connectivity, which was previously only available to the FX market.
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Bondecosystem will also be delivering a consolidated point of contact, thereby connecting global bond traders to ECNs and banking institutions, which will effectively allow the assimilation of asset classes as well as eliminating the need for multiple leased lines. FXecosystem will also lean on its co-location facilities to provide proximity hosting solutions in order to meet all bond trading requirements in its LD4 and NY4 datacenters, helping foster smoother trading execution and operational efficiencies.
According to James Banister, Chief Executive Officer (CEO) of FXecosystem: “Bondecosystem will enable bond traders to benefit from the same dynamic connectivity solutions enjoyed by FX traders. Merging platforms and asset classes together into one e-commerce platform makes clear sense and reflects the direction leading banks are taking.”
“The development of Bondecosystem was driven by existing customer demand, especially from banks wishing to extend the benefits of co-location to their bond activity,” he added.
Back in late November, FXecosystem expanded its services suite to cater to Tier 1 and Tier 2 banks, boasting a mitigated latency connection between the financial hubs of London and New York. The group already possessed a unified point of entry to connect to myriad FX market participants worldwide, with access to its LD4 (London) and NY4 (New York) Meet-Me-Room (MMR) ecoworld. As per its newest upgrade however, FXecosystem was integrated into Hibernia’s new Ultra 5 Express Circuit, consequently offering clients a reduced RTD between London and New York.