Market data and trading infrastructure provider MarketPrizm has launched a new trading service for FX, called PrizmFx, promising to simplify client access to trading platforms by providing a single connection for price discovery and execution.
The new service gives users ultra-low latency connectivity and co-location hosting services to major FX trading platforms and single bank solutions. Clients can be co-located next to the matching engines in New York, London and Singapore to access these platforms locally and can also use MarketPrizm’s infrastructure, PrizmNet, from any one of MarketPrizm’s exchange locations in Europe and Asia.
Comprised of some 30 electronic communications networks and bank liquidity pools, the FX market is fragmented. This provides a great opportunity for a liquidity re-aggregation platform, according to MarketPrizm.
“The world of FX trading is changing rapidly with continued growth in electronic and algorithmic trading volumes, the opening up of the market to new entrants, and further regulatory initiatives,” said Tanuja Randery, CEO, MarketPrizm. “We believe that the industry is now at a point in its development where PrizmFx can make a real difference.”