e-Forex magazine’s April edition, focusing on current trends in high-performance FX trading, featured remarks by FCM360’s Jubin Pejman on the explosive growth of FX and the emergence of Singapore, Hong Kong and other locations as trading centers.
In the piece titled Pathways for Achieving Higher Speed FX Connectivity, author Dan Barnes, examined the increased adoption of Algorithmic FX trading coupled with the growth of FX trading on exchanges and the launch on new FX ECNs. Barnes asks whether these trends are making connectivity more complex and potentially more costly for trading firms.
The article quotes FX authority Jubin Pejman, FCM360 managing director: “New regulations are forcing a lot of people out of the energy and commodity markets, which were typically very stable. Capital has to go somewhere. Entire divisions of people are being laid off. They can’t just move to another shop as the rules affect every firm, so they are looking at other asset classes.”
Likewise, “It is very hard to make money in equities. For the traders who want to get out of the energy and equities businesses, this is where those people can make money,” said Pejman, whose FCM360 (www.FCM360.com) offers managed services and technology in the derivatives, Forex and other sector. He, added, “The reason FX has blown up in size is that many countries, such as Singapore, Hong Kong, China and Japan, are making it easy to get into the market.”
Additionally, Pejman noted, “Brokers try to service on a one-to-many basis so, on average, the quality of pricing and service outweighs pure low-latency. The few milliseconds that it might take to get the pricing can be valuable if the pricing is substantially better anyway. So it simply becomes a consistency of business issue.”
When the clients of those brokers who have not prepared adequately experience disruption, FCM360 often moves them over to a fiber cross-connect resulting in a low latency, high availability connection, according to Pejman. Likewise, “If there is an outage in the region from which the clients trading, the broker server is still connected to the banks and can quickly execute all of their clients’ orders,” Pejman explained.
“Due to the nature of FX trading you don’t have the kind of data complexity that you see in other asset classes but you have lots of transactions. What this means from a connectivity perspective is that there is lots of messaging and lots of individual data streams but you don’t have as much data volume,” Pejman concluded.
The April edition of e-Forex (www.e-forex.net) also interviewed Philippe Ghanem, managing director and vice chairman of ADS Securities in Abu Dhabi, and covered new developments in FX client services as well as cryptocurrencies and other key topics.
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