XCore system, a provider of FX bridge aggregation and hosting solutions, has integrated Refinitiv Elektron as a service into their ecosystem. Real-time data from Refinitiv’s platform, formerly the Financial and Risk business of Thomson Reuters, will be made available to users in a move to simplify access to real-time price information and reducing the need for investment in infrastructures.
The core of the integration of Elektron into XCore consists of an ultra-low latency order routing and pricing engine, also giving the institutions the opportunity to connect to a wide range of liquidity providers. Elektron allows its users to complete integration as a standalone service or as part of a larger managed-services offering.
Refinitiv, whose Eikon terminals challenge those provided by Bloomberg, is set to be acquired by London Stock Exchange in a $27 billion deal. LSE said there is a lot of overlap with Refinitiv in areas including technology, property, and corporate functions, which allows for combining the data generated by the exchange with Refinitiv’s distribution and analytics.
Refinitiv reported earlier last month that the average daily volumes (ADV) of currency trading were $540 billion in March on the company’s main FX trading services.
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New features added to XCore
Separately, PrimeXM has upgraded XCore functionality and added new connectivity options, all built to cater to the different needs of their institutional clients.
The newly-added feature enables users to add or remove available liquidity providers in the XCore for different aggregation strategies. It also allows them to update their selected providers of existing connectors without the help of the PrimeXM support team.
Among the benefits of the new functionality that XCore has just rolled out, a dynamic solution to add or remove LPs for selected symbols, security, or liquidity pool, with all providers can be updated in real-time.
PrimeXM also advertised in March the addition of a system rollback solution and provided specific scenarios in which it can be used. Dubbed ‘Backup and Restore Configuration,’ the upgrade allows users encountering technical glitches to use the inbuilt tools from XCore recovery suite to restore their system to an operable state or a recent restoration point without any involvement from the support team.
XCore is installed in PrimeXM’s infrastructure in Equinix data centers, allowing for the management of the entire brokerage business in a centralized environment.