Automated trading platform provider FXone has announced that they have successfully completed FIX certification with Hotspot FX. FXone users will now be able to access both Hotspot’s FX ECN pricing as well as their Wholesale Liquidity offering through the platform. The integration is part of FXone’s focus on the institutional trading sector as its platform provides a spreadsheet based strategy development environment.
Explaining who the platform is geared to, Rosario M. Ingargiola, President & CEO of FXone said “We are really targeting institutional buy-side firms, e.g., hedge funds, CTAs, separare managed account managers, etc. Almost 100% of our business and focus is on the institutional side, as out platform is a bit sophisticated. All the new products and services we have coming out are also targeting institutional customers, e.g., out tick database and out Virtual Private ECN liquidity aggregation and multi-counterparty trading capabilities.”
FXone Gets FIX Certified with Knight Hotspot FX
San Francisco, CA – March 18, 2013 – FXone, the only ultra-high performance automated trading platform with spreadsheet-logic-based algorithmic trading strategy development capabilities, announced that it has successfully completed its FIX certification with Knight Hotspot FX.
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Rosario M. Ingargiola, CEO at FXone – Seabury Financial Solutions LLC, said “We are very pleased to announce that we have successfully completed our FIX certification with Knight Hotspot FX. Hotspot is a leading FX execution venue with a wide range of compelling liquidity solutions that target different market segments and broaden the reach of our combined solution.”
All of Hotspot’s award-winning products and services are available through FXone, including its recently launched Wholesale Liquidity Solutions aimed at servicing the liquidity needs of FX brokers around the globe.
John Miesner, Managing Director and Global Head of Sales for Knight Hotspot FX, said “FXone is a great compliment to Knight Hotspot FX’s customized liquidity offering. It greatly lowers the barriers to entry, both in terms of cost and time-to-market, for working with real-time streaming tick-level data and implementing automated trading strategies around this data. The platform can also be used for any kind of custom analytics, data visualization and dashboard creation for those users that aren’t yet pursuing fully automated trading strategies or that have different mandates within the firm.”
“Hotspot has a great management and technology team that we thoroughly enjoy working with. They were able to provide a mutual customer with true 24×5 streaming executable pricing by adding non-bank liquidity providers to bridge the daily shutdown at 5:00 pm ET that many bank liquidity providers adhere to. This is extremely beneficial for the customer, because his algorithms can now remain in the market 24 hours a day without being exposed to risk during this period and without forcing the algo to exit and re-enter the market”, said Mr. Ingargiola.
Mr. Ingargiola said “In addition to delivering the easiest automated trading strategy development environment integrated with Hotspot liquidity, we also extend Hotspot’s FIX API capabilities by providing Stop order types within the FXone Server, our ultra-low latency OMS and trade messaging engine. Trading firms can use FXone to develop strategies with tick-level signals and can replicate the entire order book directly as well as get the real-time VWAP price and create highly complex algorithmic trading strategies using an extensive suite of easy to use tools.”
For institutional trading, the FXone – Hotspot bundle is integrated to the ITCH data feed and can be hosted in Equinix NY4 for extremely low latency trade execution. FXone is available to qualified firms under a simple volume-based pricing model without any up-front or fixed recurring costs or long-term commitments. FXone – Hotspot demo accounts can be arranged for free upon request. For more information please contact firstname.lastname@example.org .