Alan Schwartz SVP and General Manager, Financial Services Division, TNS
Alan Schwartz SVP and General Manager, Financial Services Division, TNS

Extranets: Providing a secure framework for eFX

Alan Schwartz considers the two basic network options for electronic FX trading, the standard Internet and secure Extranets.

First Published: e-Forex Magazine 18 / Features / April, 2005

Those involved in foreign exchange trading now find themselves facing the same challenges that equity traders encountered in recent years. They need to find options that allow faster trading and delivery of data by an ever-expanding market that includes the traditional FX traders and an array of newcomers, such as hedge funds and regional brokers.In the pursuit of speed, traders are reducing the use of or entirely eliminating trading by phone or fax. They also realize that proprietary trading systems impose too many restrictions and limitations. Fortunately, the widespread adoption of the FIX protocol has provided a common routing platform that enables traders to connect to each other and to global currency markets.The question then is not whether to use technology in FX trading, but what platform is most effective in terms of cost, speed, security and reliability. From this perspective, there are two basic options to consider: the standard Internet and secure Extranets. A review of both will eliminate...continued

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