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.
First Published by e-Forex News: January, 2007
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.<br>
Currenex CEO and Chairman Clifford Lewis said that todays 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.