GTX to Launch London and Tokyo Matching Engines09.28.2016
GTX – NEW YORK, LONDON and TOKYO – GTX, the institutional foreign exchange trading arm of GAIN Capital Holdings Inc., will launch a new matching engine for its flagship ECN in London October 15, 2016. A Tokyo-based matching engine is planned to come online within 90 days.
At launch, liquidity on the LD4 matching engine will supplied by more than 10 leading bank and non-bank liquidity providers.
The new matching engines, along with GTX’s existing matching engine in New Jersey, can all be accessed by clients connected to any of the locations. Clients may choose whether to interact only with local liquidity for faster response time, or to obtain best price and depth against the global order book. Further, GTX’s global order book structure will help satisfy best execution mandates for asset managers and other market participants subject to them.
“We are thrilled to launch new data centers in London and Tokyo,” said Vincent Sangiovanni, CEO, GTX Bermuda LLC. “These launches will enable us to better serve our growing, global clientele, but also do so through a single global order book, which is ideal for the vast majority of our asset manager and bank buy-side clients as well as our bank and non-bank liquidity providers.”
GTX’s ECN is optimized for buy-side clients to trade on the best available prices with ongoing, active monitoring of trade matches and execution quality. This paradigm enables pricing from regional matching engines to be consolidated into a central order book.
GTX’s current matching engine is housed in Equinix’s NY4 data center. The new matching engines are housed in the company’s LD4 and TY3 data centers respectively.
Dark pools are an important source of liquidity, but there are pitfalls for traders, Eugene Budovsky of Credit...
Long-time off-exchange trading platform operators Liquidnet and BIDS Trading are being acquired.
Capital markets analyst assesses report that pioneering dark-pool operator is up for sale.
Refinitiv's Bryan Labelle sees a more connected framework helping traders access liquidity.
Markets hold up well amid 'incredible' volume and volatility.