Derivatives trading technology provider FFastFill, has launched a new service, FFastFill Horizon, that enables trading companies without direct membership to access over 60 trading venues, covering equity, fixed income, futures, FX and options, via other member firms.
Through FFastFill's software-as-a-service platform and network, users can connect to multiple trading venues via either their own or another broker’s market access, once a broker-to-broker agreement has been set up.
FFastFill says that, as broker-to-broker order flow is executed entirely within the firm's global trading platform, latency is no greater than if the user had its own market access.
The Horizon network is designed as an alternative to third party connectivity and broker-to-broker integration projects, which FFastFill claims are slower and more expensive.
The service operates with risk management functions at each step along the client to broker, broker-to-broker, broker-to-exchange route, designed to allow risk managers to monitor and control trading risk from their clients.
“As product competition between exchanges intensifies, and new trading platforms proliferate, trading firms need access to venues which they may not be members of,” said Robert Walton, managing director, business development at FFastFill. “With no consequential impact on latency, Horizon will change the way clients trade on new markets and attract new order flow for existing exchange members.”
FFastFill offers solutions including electronic order routing, clearing, risk management and back office for 80 financial institutions worldwide from its offices in London, Chicago, Prague and Sydney. The firm recently expanded its global network with the addition of a low-latency optical fibre route between London and Hong Kong, in January 2011.