FX Dealing
The solution provides a broker’s clients with access to FX instruments. The solution features special technological infrastructure serving for liquidity aggregation and internalization. The technology can be applied to various institutional and retail client groups.
Used Modules and Services
QUIK SOR — a liquidity aggregation solution providing quotes for any volume and routing orders to various liquidity pools. Quotes for various volumes can be calculated as average weighted prices for volumes from various liquidity pools or represent worst prices for the required volume available in the pools;
QUIK or webQUIK workstation with a special plugin — Terminal module FX.
Connections Available for
- FIX order router interface — to integrate SOR with external liquidity sources,
- FIX adapter interface — to connect clients’ external trading platforms to the QUIK server,
- QUIK Matching Engine — the core facilitating clients’ trading with a broker maintaining quotes for standard volumes.
Additional Information
- Two trading technologies are used:
- trading for standard volumes (set by a broker) with automatic computation and maintenance of ‘aggregated’ quotes,
- trading for requested quotes with client-given volumes.
- FIX-integrations with trading platforms — liquidity sources — are carried out by ARQA Technologies. All integrations are included in the standard solution price at no extra-charge.
- The special Terminal module FX (the interface developed for FX trade) is provided as part of FX Dealing (without charge).
- A specialized backQORT version can be used to take account of trades executed in FX Dealing.
Configuration Examples
Example 1. Modification
Modification of quotes according to a specified algorithm and their delivery to a client.
An external trading platform can be optionally connected via FIX adapter program interface.
Example 2. Aggregation and Modification
Aggregation of quotes from several liquidity pools, their modification according to a specified algorithm, trading standard / non-standard volumes.
* Connection to an external liquidity pool (e.g. a partner’s bank) requires a separate development. The scope and cost are determined on a case-by-case basis.
EBS Spot FX program interface is used for trading on either EBS Market or EBS Direct. As an alternative, trading connection can be established with Refinitiv Matching or Interactive Brokers. An external trading platform can be connected via FIX adapter program interface.
Example 3. Aggregation, Modification and Own Pool of Liquidity
Aggregation of quotes from several liquidity pools with the addition of own liquidity pool, their modification according to a specified algorithm, trading standard / non-standard volumes.
* Connection to an external liquidity pool (e.g. a partner’s bank) requires a separate development. The scope and cost are determined on a case-by-case basis.
EBS Spot FX program interface is used for trading on either EBS Market or EBS Direct. As an alternative, trading connection can be established with Refinitiv Matching or Interactive Brokers. An external trading platform can be connected via FIX adapter program interface.
Additional Features
Terminals of external trading platforms can be connected to chosen liquidity sources via the QUIK Server.
Ready-made Solutions
Integration with FXall
FXall is an electronic trading platform by Refinitiv (Thomson Reuters). FXall allows trading FX instruments for 500 currency pairs and supports liquidity via 180 banks and alternative market-makers.
QUIK integrates with the platform via the FXall2QUIK adapter program interface which establishes connection with FXall through a Java application.
Integration with Bloomberg FXGO
Bloomberg FXGO is a multi-bank FX trading platform.
QUIK integrates with Bloomberg FXGO via FIX adapter program interface.
QUIK’s integration with FXall and Bloomberg FXGO platforms provides users of Refinitiv (Thomson Reuters) and Bloomberg terminals with access to the Moscow Exchange FX market or internal broker system via QUIK.
The Tasks Solved:
- sending a request from the trading platform for quotes delivery from the QUIK server,
- transmitting quotes from the QUIK server to the trading platform,
- transmitting orders forwarded in the trading platform to the QUIK server and further to Moscow Exchange or a broker’s internal system,
- reporting on executed orders to the trading platform.
Connection to the Moscow Exchange FX market requires:
Connection to the broker’s internal system requires:
Solution Architecture
