London-based FXCubic, a technology provider in the forex trading industry, announced on Monday the completion of the integration of Refinitiv Elektron, thus enabling its clients to offer physical stock trading.
Refinitiv, which is now a part of the London Stock Exchange Group, is a major financial data provider that provides access to more than 500 global exchanges, thousands of over-the-counter (OTC) markets, and over 100 million financial instruments.
Refinitiv Elektron, in particular, offers cross-asset market and pricing data. It provides 9 million prices updates per second over 84 million instruments, and 2.5 terabytes of real-time pricing daily.
The announcement shared with Finance Magnates also highlighted that Refinitiv Elektron’s content is also regulated through the MiFID II
MiFID II
MiFID II stands for the Markets in Financial Instruments Directive, and is the second iteration of a sweeping directive. As such it is known as MiFID II. The original Markets in Financial Instruments Directive (MiFID) became effective in November 2007. It was intended as the foundation of the EU’s Financial Services Action Plan, a comprehensive project to create a single European market in financial services. MiFID is intended to create a level playing field for firms to compete in the EU’s financial needs and to ensure a consistent level of consumer protection across the EU. MiFID II rules come into force for the European financial sector on January 3, 2018, which are set to have far-reaching consequences for the industry. MiFID II ExplainedMiFID II relates to the framework of trading venues/structures in which financial instruments are traded. MiFID is concerned with regulating the operation of the full range of trading venues and the processes, systems, and governance measures adopted by market participants. The newest version of MiFID updates requires trading transactions and information to be more transparent than ever before. MiFID II requires that all prices are posted before and after trades are completed, no matter the type of trading platform on which transactions occur. Giving investors access to a whole new scope of data and information and enables them to make more educated decisions regarding their clients’ portfolios. One of the primary purposes of this new requirement is to allow retail firms and their customers to find the best deals available by comparing prices and other factors from the newly available data. MiFID II looks to substantially increase the protection of retail investors and severely limit the types of financial instruments with which retail investors can complete transactions without being legally obligated to consult a trader or similar professional.
MiFID II stands for the Markets in Financial Instruments Directive, and is the second iteration of a sweeping directive. As such it is known as MiFID II. The original Markets in Financial Instruments Directive (MiFID) became effective in November 2007. It was intended as the foundation of the EU’s Financial Services Action Plan, a comprehensive project to create a single European market in financial services. MiFID is intended to create a level playing field for firms to compete in the EU’s financial needs and to ensure a consistent level of consumer protection across the EU. MiFID II rules come into force for the European financial sector on January 3, 2018, which are set to have far-reaching consequences for the industry. MiFID II ExplainedMiFID II relates to the framework of trading venues/structures in which financial instruments are traded. MiFID is concerned with regulating the operation of the full range of trading venues and the processes, systems, and governance measures adopted by market participants. The newest version of MiFID updates requires trading transactions and information to be more transparent than ever before. MiFID II requires that all prices are posted before and after trades are completed, no matter the type of trading platform on which transactions occur. Giving investors access to a whole new scope of data and information and enables them to make more educated decisions regarding their clients’ portfolios. One of the primary purposes of this new requirement is to allow retail firms and their customers to find the best deals available by comparing prices and other factors from the newly available data. MiFID II looks to substantially increase the protection of retail investors and severely limit the types of financial instruments with which retail investors can complete transactions without being legally obligated to consult a trader or similar professional.
Read this Term. The partnership will allow the FXCubic clients to gain access to the real-time financial market data provided by Refinitiv.
The integration will also include corporate and sovereign bond pricing from Tradeweb, access to with MarketAxess, Refinitiv’s FXall, and dozens of other global data sources.
Commenting on the integration, FXCubic’s CEO, Ege Kozan said: “FXCubic, has changed the fintech landscape over the last few years with the stability, unique features, numerous integrations, and high-performance of our bridging and aggregation solutions. This addition of such a strong liquidity
Liquidity
Liquidity is at the core of every broker’s offering. It is a basic characteristic of every financial asset – be it a currency, stock, bond, commodity or real estate. The more liquid an asset is, the easier it is to sell and buy on the open market. Foreign exchange is considered to be the most liquid asset class.Brokers can source liquidity from a single or multiple source, thereby delivering to their clients enough market depth for their orders to get filled. The main characteristic of liquidity is its depth, which will determine how quickly and how big of an order can be executed via the trading platform.Understanding LiquidityLiquidity can be internal or external depending on the size and the book of the broker. Companies which are large enough and have material client flows consistently are creating their own liquidity pools from the order flow of their clients, thereby internalizing flows and saving on costs to send customer orders to the interbank market. By doing that however they are exposing themselves to carry the risk on the trade.Liquidity providers can be prime brokers, prime of primes, other brokers or the broker’s book itself. Traditionally brokers are split between internalizing flows and offloading trades of their clients to different liquidity providers.Generally, retail brokers and their clients prefer more liquid assets which lead to better fill rates and less slippage. When there is lack of liquidity on a certain market, slippage can occur – the order is executed at a price which is the closest available to the one requested by the client.
Liquidity is at the core of every broker’s offering. It is a basic characteristic of every financial asset – be it a currency, stock, bond, commodity or real estate. The more liquid an asset is, the easier it is to sell and buy on the open market. Foreign exchange is considered to be the most liquid asset class.Brokers can source liquidity from a single or multiple source, thereby delivering to their clients enough market depth for their orders to get filled. The main characteristic of liquidity is its depth, which will determine how quickly and how big of an order can be executed via the trading platform.Understanding LiquidityLiquidity can be internal or external depending on the size and the book of the broker. Companies which are large enough and have material client flows consistently are creating their own liquidity pools from the order flow of their clients, thereby internalizing flows and saving on costs to send customer orders to the interbank market. By doing that however they are exposing themselves to carry the risk on the trade.Liquidity providers can be prime brokers, prime of primes, other brokers or the broker’s book itself. Traditionally brokers are split between internalizing flows and offloading trades of their clients to different liquidity providers.Generally, retail brokers and their clients prefer more liquid assets which lead to better fill rates and less slippage. When there is lack of liquidity on a certain market, slippage can occur – the order is executed at a price which is the closest available to the one requested by the client.
Read this Term provider will extend our reach and empower our clients to offer much more on their platform.”
Meeting the Demand for FX Technologies
FXCubic is becoming a major trading industry technology provider. Over the years, it partnered with several brokerages that include Broctagon Prime, M4Markets, Equiti Capital, Exclusive Capital, and Libertex for offering liquidity services.
The company is also focused on expanding its services and launched a risk intelligence solution earlier this year, which is providing dealers and risk managers a global view of their entire trading operation within a single GUI.
London-based FXCubic, a technology provider in the forex trading industry, announced on Monday the completion of the integration of Refinitiv Elektron, thus enabling its clients to offer physical stock trading.
Refinitiv, which is now a part of the London Stock Exchange Group, is a major financial data provider that provides access to more than 500 global exchanges, thousands of over-the-counter (OTC) markets, and over 100 million financial instruments.
Refinitiv Elektron, in particular, offers cross-asset market and pricing data. It provides 9 million prices updates per second over 84 million instruments, and 2.5 terabytes of real-time pricing daily.
The announcement shared with Finance Magnates also highlighted that Refinitiv Elektron’s content is also regulated through the MiFID II
MiFID II
MiFID II stands for the Markets in Financial Instruments Directive, and is the second iteration of a sweeping directive. As such it is known as MiFID II. The original Markets in Financial Instruments Directive (MiFID) became effective in November 2007. It was intended as the foundation of the EU’s Financial Services Action Plan, a comprehensive project to create a single European market in financial services. MiFID is intended to create a level playing field for firms to compete in the EU’s financial needs and to ensure a consistent level of consumer protection across the EU. MiFID II rules come into force for the European financial sector on January 3, 2018, which are set to have far-reaching consequences for the industry. MiFID II ExplainedMiFID II relates to the framework of trading venues/structures in which financial instruments are traded. MiFID is concerned with regulating the operation of the full range of trading venues and the processes, systems, and governance measures adopted by market participants. The newest version of MiFID updates requires trading transactions and information to be more transparent than ever before. MiFID II requires that all prices are posted before and after trades are completed, no matter the type of trading platform on which transactions occur. Giving investors access to a whole new scope of data and information and enables them to make more educated decisions regarding their clients’ portfolios. One of the primary purposes of this new requirement is to allow retail firms and their customers to find the best deals available by comparing prices and other factors from the newly available data. MiFID II looks to substantially increase the protection of retail investors and severely limit the types of financial instruments with which retail investors can complete transactions without being legally obligated to consult a trader or similar professional.
MiFID II stands for the Markets in Financial Instruments Directive, and is the second iteration of a sweeping directive. As such it is known as MiFID II. The original Markets in Financial Instruments Directive (MiFID) became effective in November 2007. It was intended as the foundation of the EU’s Financial Services Action Plan, a comprehensive project to create a single European market in financial services. MiFID is intended to create a level playing field for firms to compete in the EU’s financial needs and to ensure a consistent level of consumer protection across the EU. MiFID II rules come into force for the European financial sector on January 3, 2018, which are set to have far-reaching consequences for the industry. MiFID II ExplainedMiFID II relates to the framework of trading venues/structures in which financial instruments are traded. MiFID is concerned with regulating the operation of the full range of trading venues and the processes, systems, and governance measures adopted by market participants. The newest version of MiFID updates requires trading transactions and information to be more transparent than ever before. MiFID II requires that all prices are posted before and after trades are completed, no matter the type of trading platform on which transactions occur. Giving investors access to a whole new scope of data and information and enables them to make more educated decisions regarding their clients’ portfolios. One of the primary purposes of this new requirement is to allow retail firms and their customers to find the best deals available by comparing prices and other factors from the newly available data. MiFID II looks to substantially increase the protection of retail investors and severely limit the types of financial instruments with which retail investors can complete transactions without being legally obligated to consult a trader or similar professional.
Read this Term. The partnership will allow the FXCubic clients to gain access to the real-time financial market data provided by Refinitiv.
The integration will also include corporate and sovereign bond pricing from Tradeweb, access to with MarketAxess, Refinitiv’s FXall, and dozens of other global data sources.
Commenting on the integration, FXCubic’s CEO, Ege Kozan said: “FXCubic, has changed the fintech landscape over the last few years with the stability, unique features, numerous integrations, and high-performance of our bridging and aggregation solutions. This addition of such a strong liquidity
Liquidity
Liquidity is at the core of every broker’s offering. It is a basic characteristic of every financial asset – be it a currency, stock, bond, commodity or real estate. The more liquid an asset is, the easier it is to sell and buy on the open market. Foreign exchange is considered to be the most liquid asset class.Brokers can source liquidity from a single or multiple source, thereby delivering to their clients enough market depth for their orders to get filled. The main characteristic of liquidity is its depth, which will determine how quickly and how big of an order can be executed via the trading platform.Understanding LiquidityLiquidity can be internal or external depending on the size and the book of the broker. Companies which are large enough and have material client flows consistently are creating their own liquidity pools from the order flow of their clients, thereby internalizing flows and saving on costs to send customer orders to the interbank market. By doing that however they are exposing themselves to carry the risk on the trade.Liquidity providers can be prime brokers, prime of primes, other brokers or the broker’s book itself. Traditionally brokers are split between internalizing flows and offloading trades of their clients to different liquidity providers.Generally, retail brokers and their clients prefer more liquid assets which lead to better fill rates and less slippage. When there is lack of liquidity on a certain market, slippage can occur – the order is executed at a price which is the closest available to the one requested by the client.
Liquidity is at the core of every broker’s offering. It is a basic characteristic of every financial asset – be it a currency, stock, bond, commodity or real estate. The more liquid an asset is, the easier it is to sell and buy on the open market. Foreign exchange is considered to be the most liquid asset class.Brokers can source liquidity from a single or multiple source, thereby delivering to their clients enough market depth for their orders to get filled. The main characteristic of liquidity is its depth, which will determine how quickly and how big of an order can be executed via the trading platform.Understanding LiquidityLiquidity can be internal or external depending on the size and the book of the broker. Companies which are large enough and have material client flows consistently are creating their own liquidity pools from the order flow of their clients, thereby internalizing flows and saving on costs to send customer orders to the interbank market. By doing that however they are exposing themselves to carry the risk on the trade.Liquidity providers can be prime brokers, prime of primes, other brokers or the broker’s book itself. Traditionally brokers are split between internalizing flows and offloading trades of their clients to different liquidity providers.Generally, retail brokers and their clients prefer more liquid assets which lead to better fill rates and less slippage. When there is lack of liquidity on a certain market, slippage can occur – the order is executed at a price which is the closest available to the one requested by the client.
Read this Term provider will extend our reach and empower our clients to offer much more on their platform.”
Meeting the Demand for FX Technologies
FXCubic is becoming a major trading industry technology provider. Over the years, it partnered with several brokerages that include Broctagon Prime, M4Markets, Equiti Capital, Exclusive Capital, and Libertex for offering liquidity services.
The company is also focused on expanding its services and launched a risk intelligence solution earlier this year, which is providing dealers and risk managers a global view of their entire trading operation within a single GUI.
Source: https://www.financemagnates.com/institutional-forex/technology/fxcubic-completes-refinitiv-elektron-integration/