The trading system integrator offering solutions to the online retail FX space, Gold-i, has announced a partnership with FXecosystem, in order to offer a complete managed IT service, as an outsourced solution to brokerages.
The announced synergy focuses on retail brokers that offer or are planning to offer the MetaTrader 4 (MT4) ) platform – developed by MetaQuotes Software Corporation – to their end-clients.
It’s not uncommon for technology providers to partner with other Independent Service Vendors( ISVs), in an effort to create a joint offering, or to supplement the offering of one of the company’s solutions to end brokerages. According to people familiar with the development, a London-based broker is already in the process of going live with the solution.
Synergy Compliments Gold-i's Offering
Forex Magnates had covered the news when ParFX joined FXecosystem's Low-latency FX Community Meet-me-Room, at the end of 2013, just after CHF Clearing chose FXecosystem to provide dedicated connectivity via a point of presence solution in London. Gold-i had previously announced a similar synergy when it partnered with Ariel Communications in November, and then its latest announcement - prior to today's news- when it developed a solution for CFH Clearing just last month.
In the official press release the offering was described as ideal for start-up brokerages, as well as firms that don’t have a server room or in-house IT support yet, and enables firms to have a fast and reliable MT4 offering through the outsourced solution (without the need for in-house support), regardless of where they are located.
Forex Magnates' reporters confirmed with a Gold-i Company spokesperson around the time of publication that the development of the solution was in response to customer demand, and how the solution was also scalable to larger firms looking for a one-stop shop solution, and that several had already indicated interest, and that the options were cost-effective.
In addition, the spokesperson said in response to questions posed regarding the importance of adding this solution, "This is key to enhancing the suite of solutions which Gold-i offers. It means that Gold-i can now offer a complete service – the best technology solutions for whatever a client wishes to achieve. A broker can come directly to Gold-i for all their requirements, and, working in conjunction with our partners, we will set up and manage all of their technology," and concluded, "By offering this service we are giving an extra option to clients – they can choose our White Label solution, their own server environment or a fully managed and hosted IT service."
Managed IT Served as an Outsourced Solution
FXecosystem specializes in outsourced FX connectivity and Gold-i will load the MT4 license, connect MT4 to its low-latency Gold-i Gate Bridge and be responsible for the daily management of the system.
Tom Higgins, CEO, Gold-i
Tom Higgins, CEO of Gold-i, commenting in the official press release, said, “We are seeing an increasing number of brokers who want to purchase an MT4 license and outsource all hardware and software. We are able to offer consultancy on the most appropriate hardware and software for a particular broker and can then set up and manage all the required technology, enabling the broker to focus entirely on client servicing and business growth.
Mr. Higgins concluded, “We envisage our hosted service will be a big growth area for Gold-i. We selected FXecosystem, a specialist in the FX arena, as our hosting partner because of their technical expertise and global reach in delivering low-latency network connectivity.”
The setup uses a combination of Gold-i’s Hosted and Managed Services, and broker's software and hardware will be supported 24x7, and as part of the new offering, Gold-i and FXecosystem will work closely with firms to determine the most appropriate hardware set- up and data center location for low-latency FX hosting and connectivity.
James Banister, CEO of FXecosystem
James Banister, CEO of FXecosystem, added in the announcement, “We are pleased to partner with Gold-i to provide Institutional level proximity connectivity to the retail FX sector which is seeking enhanced reliability for connectivity to their banks and trading counterparties. Our service allows for rapid scalability as these clients grow globally.”
