Option Computers, a provider of straight-through-processing and connectivity feed handling software for foreign exchange (FX) markets, has released a liquidity aggregation solution for FX traders.
The firm’s new DealHub liquidity aggregation module connects to key FX trading venues and electronic communications networks including Reuters AQ, EBS Ai, CME (for spot equivalent futures), Hotspot FXi, Lava Trading, 360T, Currenex, as well as single bank platforms such as Deutsche Autobahn, BARX, CitiFX Velocity, Goldman Sachs REDI and UBS FX2B.
The service uses low-latency DealHub/Buy Side Automated Trading Interfaces (DHATI) to each of the trading venues to create an internal pool of liquidity. Users can customise the aggregation tool and create their optimal trading graphical user interface, displaying best price and depth of book either by individual provider or across multiple venues alongside position/risk management and deal blotter windows.
Traders can also configure a variety of complex smart order settings and pre-defined strategies to place and monitor orders in the market, including VWAP, iceberg and contingent orders. DealHub also provides users with a full audit trail of the entire order and trading process by sending confirmed trade tickets directly to back office systems.
“Creating an aggregated pool of liquidity is the first step in optimising the way the bank hedges its flow of client business either through smart order routing or by algorithmic trading models,” said Peter Kriskinans, managing director of Option Computers, in a statement. “This pool of liquidity can be used by order management systems and also by price engines, creating client side pricing which can be distributed by the DealHub/Connectivity Manager solution to multiple client facing platforms and the bank’s FIX API.”