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City Index implements Velocimetrics to enable even faster foreign exchange pricing

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9 December 2014
United Kingdom

Velocimetrics, the provider of real-time business performance monitoring and analysis solutions to the global financial community, today announces that City Index, a leader in spread betting, CFDs and FX trading, has implemented Velocimetrics to further assure the delivery of ultra-fast and high quality foreign exchange (FX) pricing.

Producing tradable FX prices 24 hours a day, the ability to detect possible time delays in data received from liquidity providers, or latency impacting price production and distribution, is essential in ensuring pricing accuracy and business success. The solution provides City Index with the ability to instantly detect the emergence of latency and issues occurring with the aggregation of data used to calculate prices, further enhancing the quality of service City Index offers across the thousands of different FX instruments it prices.

Employing both network and application monitoring techniques, to eliminate blind spots, City Index has gained complete visibility and highly accurate latency metrics across the entire price production process. This insight enables the business to trace the formulation of tradable quantities, such as particular currency pairs; from the moment encrypted data is received, from multiple OTC liquidity providers, right up to the point that prices are distributed out to clients.

With this insight, City Index can instantly pinpoint possible time delays and tune their systems to ensure they can react even faster to changing market conditions and continue to deliver accurate pricing.

The completion of this project follows the successful deployment of Velocimetrics earlier this year, within City Index’s equities price production infrastructure. The equities initiative provided market data quality assurance and supported on-going efforts to effectively manage operational risk and ensure the continuous publication of fast, high quality equity pricing.

To understand more about City Index’s implementation of Velocimetrics within their FX price production environment, please click here to view the case study.

Commenting on the recent implementation, Gautam Dixit, Head of Pricing and Analytics at City Index stated:

‘Providing low latency, accurate pricing is essential and Velocimetrics has played an instrumental role in helping us to confidently deliver even faster pricing.’

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