EFX Trading Platform: 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.


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


Chronicle Software worked with the client and built a bespoke Java Based EFX Trading Platform that included 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.


The EFX Trading Platform 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:


Queue Enterprise


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