LONDON, May 23, 2011 — FXecosystem, a bespoke network solution specifically designed to ease fragmentation of connectivity in the FX market, today announced record numbers of market participants have signed up.
Within the first three months of 2011, more than 30 key market participants have connected, including top 10 banks, brokers, ECNs, vendors and hedge funds. This has expanded the already substantial community of participants and now includes major sell-side names such as Citi, Barclays, Credit Suisse, EBS, Hotspot, Currenex, as well as buy-side clients such as FX-Concepts.
Whilst recent advances in trading technology have enhanced price execution and data discovery in FX, until now that delivery has taken place using a 20+ year old legacy telecom infrastructure, which was effectively a "spaghetti" of circuits. FXecosystem offers an easy-to-implement, affordable network solution which was designed specifically to ease that fragmentation of connectivity – enabling lower latency and more efficient trading than currently available from telecoms or extranet services, while at the same time leveraging existing data center infrastructures.
By connecting to FXecosystem's network, clients benefit from fast, easy access to an "ecosystem" of top market participants. Kelly Adams, CTO, FX-Concepts, agrees, saying, "FXecosystem has enabled us to move to a faster and more efficient connectivity solution than we have had before. They assisted with the implementation details and now manage most aspects of our connections for us – with much faster turnaround and a more affordable alternative than other solutions in the market. Because they focus on FX exclusively, FXecosystem was a perfect fit for us."
John Farrell, Global Head of Sales at FXecosystem, says, "FXecosystem has been designed to solve a problem that has plagued the FX market for a long time – latency-ridden, expensive and unreliable connections that have hampered participants' ability to truly take advantage of technology enhancements in price execution and data discovery. We had a very strong Q1 in terms of the number of clients onboarded, and Q2 is already showing to be as strong in terms of client numbers. We are delighted that FXecosystem is fast becoming the connectivity solution of choice for the FX market."
For more information: Visit
Email Email or contact Martina Doherty on +44 (0)7951 057146
About FXecosystem
FXecosystem is a bespoke network solution designed to ease the fragmentation of connectivity in the FX market. We offer an easy-to-implement, affordable alternative to the "connectivity spaghetti" which exists in the market today – enabling faster, more efficient trading. As an experienced FX team, we know and understand the frustrations of operating in the 24-hour global FX environment, so have created a solution that provides faster onboarding, lower latency and a less expensive connectivity alternative to anything available from legacy connectivity providers. FXecosystem is ultimately changing how the FX market connects.
or call +44 (0)20 35100200
# # #