Currenex delivers OpenSTP/FX

Currenex has announced the delivery of “OpenSTP/FX,” an Open Standard FIX-based STP protocol for Foreign Exchange, Money Markets and precious metals. OpenSTP/FX is targeted at sell-side banks, buy-side customers, prime brokers, custodians and corporate treasuries. OpenSTP/FX is designed to reduce the cost and complexity of STP processing by eliminating proprietary STP feeds and leveraging a common standard. The protocol supports all post-trade workflows including allocations, averaging and trade rolls. Currenex is providing the OpenSTP/FX protocol freely under an open source license.Currenex CEO and Chairman Clifford Lewis said that today’s fragmentation of STP solutions slows the adoption of new trading technologies and forces a reliance on high-cost legacy vendors. “By eliminating these factors we hope to accelerate the industry-wide adoption of electronic trading,” he added....continued

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