Integral Development Corp. announced the launch of FX Cloud, a set of services for the full life cycle of FX trading, hosted by the company.
The services are available for trades initiated on the Integral network and will be rolled out in the coming months to “off-network” trades, opening the services up to all industry market participants, the company said.
FX market participants and third-party businesses that support them will have access to all the tools they need to build their own proprietary solutions on a shared open platform, according to the company in its release.
Built around FX Grid, Integral’s global inter-institutional connectivity and trading network, FX Cloud includes a trade repository, real-time and historical data, analytical services, algo hosting services, storage in Integral’s data centers, and support, as a complete suite of OTC FX trading and aggregation services. Most services will be available or free, and delivered instantly, others will be fee-based, the company says the company.
“Providing affordable access to the FX market to an ever wider variety of businesses has been at the core of Integral’s success to date,” comments Harpal Sandhu, Integral’s CEO, in the press statement. With the release of FX Cloud, we are now offering the broader market access to the full life cycle of FX at a cost level never before achieved. This is the future of OTC trading services and Integral is bringing it to FX markets.”
The services – including real-time FX market rates, trade repository, trade reporting, post-trade messaging historical tick-by-tick data and hosting of proprietary algorithmic trading systems—have been in development and beta testing for some time, are being rolled out in production this month. Integral is actively certifying third-party services providers offering their services within FX Cloud.
“FX Cloud allowed us to go from our research models directly to simulated and then production trading without the need of an internal IT staff,” stated Jeff Hord, CEO, Cogence Capital, an investment company that takes advantage of quantitative forecasting methods to trade electronically in FX markets. “FX Cloud provided the real-time tick data, execution models, hosting facility and post trade messaging in a single solution.”
Integral says it will leverage the existing FX Grid functionality to create a global trade repository that allows for real-time reporting of transaction data, recordkeeping and reporting of data, thereby meeting the expected reporting requirements of Dodd-Frank. It is a centralized registered repository that captures and maintains an electronic database of cleared and non-cleared FX transactions. The use of the global trade repository is open to all FX market participants, according to the company.
Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio