A new FX platform is on the horizon. Tiger Ventures, led by Mark Smith and Mohan Thurairajah, is developing the TigerFX trading platform. Smith was a co-founder of the first ECN for FX (MatchBook FX) as well the former COO and co-founder of LavaFX. Thurairajah was part of the early development team at the Intercontinental Exchange (ICE) as well as the former Global Head of Connectivity and Teach Lead at TradingScreen.
According to Smith “Tiger’s multi-asset class trading technology and pay per transaction recurring revenue model is the next step forward in the rapidly evolving electronic foreign exchange (FX) market. As research has shown the method by which both institutional and non-ECP traders execute their orders has been moving away from the traditional ‘market maker’ model to a more transparent marketplace made up of deep pools of liquidity found on Electronic Communication Networks (ECN) and Alternative Trading Systems (ATS). The Tiger technology solution facilitates this style of trading in all types of FX products including Spot, Forwards, Options, and Futures, as well as non-FX products like CFDs.” In addition, “the speed and reliability of the platform solves the problem of off market executions and scalping due to latency; and levels the playing field for the both High Frequency traders (HFT), liquidity providing sell-side institutions, and the independent trader. This low latency messaging also allows for more timely and accurate processing of pre and post trade data which is crucial to meeting new stringent regulatory rules. With almost limitless linear scalability, our technology can be used to create a transparent global exchange in any FX vertical.”
The company feels that its differentiator is its technology and highlights several attributes that are pertinent:
– Low latency: 100K order per second on a single matching engine with a 30 micro second latency.
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– Parallel Persistence architecture: Parallel Persistence provides low latency guaranteed messaging without the need for centralized messaging brokers or specialized hardware infrastructure, such as Storage Area Network systems, found in traditional “store and forward” designs resulting in faster trades.
– Commodity Hardware: Reduce costs associated with underlying hardware and network infrastructure because of Ultra Messaging’s efficient and innovative design.
– Highly Available: Eliminate single points of failure across its systems environment and maintain 100% up-time through decoupling and a zero-latency failover configuration.