Laurent Useldinger CEO of Ullink.
Laurent Useldinger CEO of Ullink.

Laurent Useldinger discusses facilitating Direct Market Access in FX.

First Published: e-Forex Magazine 25 / Viewpoint / October 2006

Setting up an electronic trading system can prove a difficult task in the fragmented FX environment as it has to answer three needs, the need for normalisation, given the variety of message formats, the need for flexibility due to the rapid evolution of the environment and the need for low latency.The participants in the FX market were amongst the first to implement electronic trading solutions. At the time, there was no electronic messaging standard in place and participants developed in-house solutions to trade electronically. This is a contribution factor to why there is such heterogeneity in the FX electronic trading environment. It is therefore very difficult and time-consuming to implement a truly efficient and integrated system that enables connectivity management from a single point. FIX is not a standard in Foreign Exchange trading, although the protocol is becoming more and more popular. As represented by the situation today in which some of the largest liquidity pools within the FX market place...continued

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