In a clever piece of branding FXecosystem, the low latency infrastructure provider, has named its new service Cable 2.0. It provides “a number of diverse TransAtlantic link options enabling clients to transact faster than ever before” apparently.
If you didn’t know, FX took its first technological leap forward when, in 1858, “a steel cable was laid under the Atlantic Ocean, telegraphically linking the UK with the USA”, ensuring the GBP/USD FX rate would forever after be known as cable.
It seems unlikely that Cable 2.0 will change the FX market as radically as that, but FXecosystem are hoping that the service’s design “to reduce latency, risk, cost and slippage whilst increasing bandwidth, flow, customer access, efficiency and price options” will make a splash.
Jon Vollemaere, FXecosystem’s co-founder, says: “FXecosystem continues to bring innovative solutions to the FX market, enabling customers to lead the market and transact faster than ever before. We are creating a new standard for the global FX market that provides market participants with far better options on speed, cost and risk. The majority of daily FX trading takes place between London and New York, and we are pleased to add this piece of functionality to our solution.”