Keeping pace with technological change in relation to the enterprise solutions used among institutional firms is a matter often taken for granted by corporate clients, but is critical in order that providers of trading solutions to brokers can keep their foothold in an increasingly competitive and technology critical segment.
ITG, which licensed TwoFour FX’s front-to-back FX operations today, is a case in point.
The company, which provides execution and research services to FX brokers has selected TwoFour FX for its high-volume trade processing capabilities.
According to ITG, the company had been searching for a solution to support a new line of FX business, and to manage current foreign exchange transactions resulting from equity algorithmic trading systems.
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TwoFour’s ability to provide real-time position management for ITG’s current environment, as well as a scalable and flexible solution to support ITG’s long-term plans for growth were key factors in the decision.
This follows the company’s interest in ensuring that its liquidity provision is directed at various important sectors of the market. In February this year, the company released its Dynamic Close Algorithm, whose function is to allow traders to tap the liquidity available in the NYSE and NASDAQ closing auctions in a more precise manner than can be achieved by algorithms which are currently available.
Jamie Selway, Head of Electronic Brokerage at ITG, made a public statement today on the licensing of the TwoFour FXsystem: “TwoFour offers a scalable and flexible solution that supports our current business requirements, and that easily adapts to changing requirements as our business evolves,” explained Mr. Selway.
Davis, co-founder of TwoFour further added:”We are always excited to support institutions focused on adaptable solutions to manage their growth. TwoFour’s abilities are gaining significant recognition across the industry, not only for our ability to deliver performance at low cost, but for our software’s ability to meet changing business requirements, whether they be volume, user, or workflow-related.”
“We continue to invest in our solutions and to evolve with the latest proven technologies. This internal investment yields a competitive edge which our customers recognize. TwoFour consistently delivers scalable solutions quickly, and at relatively low-costs when compared to our competitors,” concluded Mr. Davis.