MarketFactory launches Sherpa Connect
MarketFactory, the FX connectivity specialist set up by a number of EBS alumni, has unveiled its Sherpa Connect software code. The company says this FX-specific product provides full and correct interpretation of the data, translation into a flexible trading API and optional connection to third-party middleware to ease integration into existing trading infrastructure.
"Correct interpretation of apparently similar fields that actually have very different meanings across ECNs and exchanges is critical. There is a high opportunity cost if valuable data is ignored or not understood. Even when an exchange uses FiX, throughput and latency considerations are necessary but not sufficient. Foreign exchange has distinctly different characteristics from equities, fixed income and other markets in terms of its global nature and microstructure," says Ed Howorka, the company's chief technology officer. The product is scheduled to be rolled out progressively over the third quarter.