Velocimetrics enhances analysis of Forex market data sent via FIX engines

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26 October 2015

Business flow performance analytics firm Velocimetrics has made a step towards helping Forex brokers to detect issues related to market data quality.

The company is now making it possible to assess the live performance of price information sent between Forex brokers and trading partners via FIX and other protocols. Thus, Forex brokers will be alerted of issues the could compromise market data quality or client communications.

Many FX brokers rely on their FIX engines to effectively send and receive electronic communications with liquidity providers and clients. If a FIX engine is not, for instance, receiving all expected FX pricing streams from all providers due to connectivity issues or technical problems impacting the provider’s IT systems, or not publishing timely and accurate prices to all clients because of internal issues, the results can be costly. In these situations, FX brokers can publish potentially unprofitable or uncompetitive prices calculated using incomplete or delayed pricing data.

Applying tested technology in a new way, Velocimetrics is able to offer detailed insight to FX brokers: this includes sophisticated analysis of the quality of individual price streams, right down to the symbol and bid/ask field level. Analyzing the data being sent and received by FIX engines to assess its completeness and timeliness, Velocimetrics will instantly alert users about unanticipated behavior or the breaching of thresholds that could lead to trade profitability, operational risk or client experience concerns.

Velocimetrics can also assess the frequency of transmission of trading messages between the broker and its clients, and raise immediate alerts in case communication levels suddenly decline or if response times surpass broker-defined limits. Velocimetrics then provides users with detailed, live and completely customizable business and technical level analysis, enabling the problem to be effectively investigated and its impact on orders, trades and clients rapidly quantified.

Paul Spencer, COO at Velocimetrics, commented:

‘FIX engines play a vital role in FX trading, so being able to instantly detect degradation in the quality of communications traversing these fundamental systems has the potential to increase trading accuracy and generate significant cost savings for the FX broker community.’

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