Quotix, a subsidiary of Spotware Systems – the developer of the cTrader platform –has today announced that New Zealand based OMF, a full service equities, options, futures and FX brokerage, has selected it as a Liquidity aggregator to support the firms FX and metals platform – the OMF cTrader.
The solution that Quotix provides enables brokerages to utilize an aggregation engine that consists of smart order routing algorithms to combine order sweeping and full amount execution, price filtering, and Risk Management rules, according to the press release description.
Forex Magnates reporters spoke with Quotix CEO Evgeny Sorokin around time of publication. He explained that the unique value proposition for Quotix, is that it helps to create a level playing field with its liquidity providers (LPs), and how Quotix is already handling tens of USD billions per day in transactions on behalf of brokerages.
Quotix CEO Evgeny Sorokin Talks Multi-bank Price Aggregation
Evgeny Sorokin, CEO, Quotix
Mr. Sorokin said to Forex Magnates around time of publication, “One of the key specifics of our product suite is that a lot of things can be done in real-time, and we've thought through every screen we've designed to make it easy for the clients to comprehend the information and manage all the aspects of their aggregation. Another point worth mentioning is that clients can have as many FIX trading accounts as they want - and they can create those at no extra cost themselves.”
“Other qualities of the solution to look at include: ability to basket orders, ability to combine full-amount execution and order sweeping algorithms, quote filtration, quote throttling, and enhanced methods of liquidity consumption to achieve price improvement for the clients without causing increased rejection ratio,” concluded Mr. Sorokin to our reporters.
OMF a Nearly 30-year-old Company in New Zealand
Commenting in the official press release James Davies, Senior FX Dealer at OMF says "We are confident that with the product suite of Quotix we'll enjoy the enhanced spreads, improved fill ratios and a better trading experience for our clients."
OMF, short for OM Financial, had been founded in 1987, and since went through two name changes, after a series of corporate structural changes shifted its ownership. The firm is a NZX accredited derivatives market participant, and NZX participant, and also regulated by New Zealand's Financial Markets Authority (FMA) as a registered financial services provider.
Quotix Solutions Complemented by Spotware Group Structure and cTrader
It's probably not a coincidence that the solution for its OMF cTrader platform was sought through the same affiliated subsidiary Quotix, as both are part of Spotware Systems, as described above.
Quotix utilises Equinix DCs and is co-located with Tier-1 makers to enhance fill ratios and reduce execution latency for clients, explained in the press release, where Mr. Sorokin added, "We are very pleased to have OMF among our clients and happy to leverage their growth in FX and precious metals trading by providing our sophisticated solutions.”
A screenshot of the Quotix administrative login, seen below, provided to Forex Magnates around time of publication:
