Two more FX trading venues; seven in six weeks
Amid the flurry of announcements of new FX trading venues in recent weeks, there are two more that deserve a mention.
During the past month and a half, we have reported on the launch of five electronic communication networks (ECNs): FXSpotStream, traFXpure, Molten Markets, FastMatch and FTSE Curex. To complete the picture, and highlight the seemingly insatiable desire to get involved in the sector, two more developments have been brought to our attention.
On May 30, smartTrade Technologies announced the release of LiquidityFX, designed to give second-tier banks a way to gain access to more liquidity and expand their FX businesses without having to build aggregation and routing technology in-house.
LiquidityFX has connectors to more than 25 FX exchanges, ECNs, and single-bank platforms. It provides algorithmic routing strategies that it says improve execution quality while protecting relationships with liquidity providers.
Meanwhile, on June 14, JFX.com was launched by Jiffix Markets, a team of former directors of Synthesis Bank in Geneva.
Based in Cyprus, JFX.com is an online platform for private and professional investors, and Jiffix says it provides pricing from nine tier 1 banks, including Bank of America Merrill Lynch, Citi, Deutsche and Morgan Stanley.
So, seven in six weeks, and we are told to expect more announcements. Watch this space.