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Global Tier 1 bank Significantly Enhances FX Automated Trading Business

A leading Tier 1 FX trading operation was using an FX pricing and trading solution that was limiting the business opportunity in both trading strategy and execution.

Challenge

The Incumbent system presented several challenges including:

Strategies: There was an inability to adjust strategies in house causing trading losses and missed opportunities

Throttling: This was occurring at peak times and the client was only able to trade the top of book and not take advantage of full book strategies

Latencies: The latency within the system was causing issues around orders getting on the market in good time

Solution

Chronicle Software worked with the client and built a bespoke Java Based FX Pricing, Trading and Auto Hedger, this was built and deployed within six months and utilized software including Chronicle Queue and Chronicle Map in conjunction with a team of experienced consultants.

Results

The solution proved extremely successful and produced an ROI within 3 months, the main factors behind this were:

Strategies: The Chronicle Solution allowed the client to adjust trading strategies “on the fly” meaning they could adjust to prevailing trading conditions

Throttling: The Chronicle Solution increased message throughput by up to ten times to over 50,000 messages per second allowing a wider range of strategies that utilize the whole book

Latencies: The Chronicle Solution reduced latency by tenfold ensuring orders hit the market in an efficient and timely manner

Solutions utilised in this project:

Microservices

Queue Enterprise

Consultancy

Our partners

We partner with some of the industry's most trusted brands

Partner Logo - MTree
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