X Open Hub Adds Multi Account Management & IB Modules to Its XOH Trading Platform

FX and CFD brokerage solutions provider and platform developer X Open Hub announced today its addition of a Multi Account Management (MAM) and Introducing Broker (IB) solution to its X Open Hub (XOH) Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, according to an official company press release.

The company, previously known as X Financial Solutions (before rebranding as X Open Hub), describes itself as regulated by the FCA and a fully open API Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and CFD brokerage solutions provider for banks and brokers, employing more than 100 professionals handling product development and supporting its relationships.

The two modules announced were fully integrated as components within the XOH hosted trading environment, as an integral part of the platform's capabilities for brokerages, and part of its standard offering to its platform licensees.

The MAM solution was described as xMAM, a web-based tool for money managers using the XOH trading environment, where xMAM was optimized to make reporting and management more efficient, such as with bulk trades capable of having attached multiple instant allocation strategies to sub-accounts. In addition, money managers get a dual view of both the nominal total amount they are trading, as well as the respective sub-accounts of their investors which collectively make up that total.

xMAM and xIB Added to XOH Platform

Money managers who place trades from within xStation for their sub-account investors are able to use xMAM to specify the asset allocation and commission management, including management fees, incentive fees (performance fees) and fixed round turn (volume) commissions.

xIB – The Introducing Broker management module consists of Front & Back Office tools and enables clients to set personalized commissions for individual IBs calculated in real-time. The IB can view their clients’ trades and subsequent rebates whilst having access to multiple performance reports all delivered real-time in an easily accessible format.

Commenting in the official press release, Jakub Zablocki, Managing Director of X Open Hub said, "I am excited by the new releases that enable our clients to centralize their operations. Our clients, consisting of banks and brokers, are looking forward to the addition of the xIB and xMAM modules and the opportunity to further centralize their operations within the X Open Hub trading platform."

Mr. Zablocki added, "X Open Hub delivered the modules to meet the increasingly sophisticated demands of our growing number of bank and broking clients. Our clients were especially appreciative that the solutions are an integral part of XOH trading environment," and concluded, "X Open Hub are focused on the stability and reliability of our systems and we will continue to enhance and add further features that will translate into profitability for our clients."

The news follows just over a month after the firm announced the on-boarding of Zulutrade to expands its social trading capabilities, as covered by Forex Magnates in early April 2014. The company also joined the binary options space, after its above-mentioned name change, and after it announced adding a new brokerage customer in a deal leveraging Tradency's MirrorTrader platform powered by XOH - at the end of 2013.