FX55 ECN provider implements MaxxTrader

FlexTrade Systems, a global leader in multi-asset execution and order management systems, today announced FX Fifty Five, the FX division

FlexTrade Systems, a global leader in multi-asset execution and order management systems, today announced FX Fifty Five, the FX division of Market Securities Kyte Group, has deployed MaxxTrader, its full STP, white label trading system for sell-side institutions operating in the foreign exchange markets.

Built by Adil Soyfoo and Nathan Halfon, FX Fifty Five is a specialist electronic FX markets execution venue delivering low latency access to tailored FX liquidity pools via GUI and API.

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“We are delighted with our partnership with FlexTrade,” said Halfon and Soyfoo. “MaxxTrader not only helps us provide a high standard of customer service, but it also manages and polices our liquidity in a highly efficient way, which is crucial to operating a pure FX agency.”

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According to Vijay Kedia, president and CEO of FlexTrade, building a viable trading platform in-house can be an impassable hurdle for many firms interested in entering the fast growing FX market. “It certainly can be costly and time consuming,” he said. “With MaxxTrader, FX Fifty Five sidesteps that process with a platform that allows them to maintain their brand identity while leveraging our cutting-edge trading technology.”

Already deployed this year by five other institutions trading in FX, MaxxTrader is a complete turnkey, ASP front-end solution allowing orders to trade directly from client to client, directly with the trading desk, or back-to-back with all liquidity providers. Designed to allow institutions to privately aggregate and issue price information to the markets and clientele, the platform offers real-time prime broker reporting, an integrated OMS to better manage orders, and aggregated liquidity from more than 40 banks, ECNS and exchanges.

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