Spotex Taps Solace Systems for Low Latency ECN Infrastructure

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 Electronic Communications Network (ECN) Electronic Communications Network (ECN) Electronic Communications Network or ECNs are execution venues which are providing the infrastructure for matching buyers with sellers. Electronic trading is traditionally used in OTC products and outside of exchanges. An ECN normally functions as an electronic system that disseminates orders entered by market makers to third parties. In doing so, an ECN permits the orders to be executed against in whole or in part. The most common products that are traded on ECNs are stocks and currencies, maki Electronic Communications Network or ECNs are execution venues which are providing the infrastructure for matching buyers with sellers. Electronic trading is traditionally used in OTC products and outside of exchanges. An ECN normally functions as an electronic system that disseminates orders entered by market makers to third parties. In doing so, an ECN permits the orders to be executed against in whole or in part. The most common products that are traded on ECNs are stocks and currencies, maki Read this Term) Spotex, has selected Solace Systems for its low latency messaging infrastructure, in a bid to help reduce response times and slippage for its comprehensive Forex network, according to a Spotex statement.

Spotex has been particularly active with a series of launches and moves to its network – earlier this month, the firm having consolidated back office, risk management and FX spot services into one cohesive solution. The company has a penchant for delivering reliable and transparent FX trade matching services, however heightened efforts to achieve this end ultimately necessitated integrating Solace Systems’ infrastructure.

According to Ritesh Agrawal, CEO of Spotex, in a recent statement on the integration of Solace Systems latency solutions, “Solace offers a unique combination of operational simplicity and extreme low latency, allowing Spotex to build highly scalable and reliable solutions for our clients. Solace’s hardware-based approach to messaging eliminates the performance problems we’ve seen in software-based solutions.”

“Spotex’s foreign exchange ECN is a disruptive force within FX trading, one destined to open new trading strategies for buy side and sell side market participants. We are very pleased to be working with Spotex to deliver this innovative offering,” added Craig Betts, CEO of Solace Systems, in an accompanying statement.