New FXall ECN To Fill Trades in 20 Milliseconds

News Wire

FXall’s recently launched ECN for foreign exchange, Accelor, adds an anonymous dealing capability to its existing relationship trading services for FX, and offers high speed matching, support for a variety of execution types and a range of market data.

Following a trial with 30 firms, Accelor is live with its first wave of participants: firms can now access Accelor via ABN Amro, AIG Financial Products, Citigroup, JPMorgan, Marex Financial, Rabobank, RBS and UBS Investment Bank.

The new ECN is powered by an inhouse built proprietary matching engine architected to acknowledge orders within 3 milliseconds and fill them within 20 milliseconds.

According to FXall’s global head of sales and marketing Mark Warms, FXall used software developers with expertise in building equities ECNs to ensure Accelor is as fast and robust as possible. The low latency has been achieved through a combination of advanced technical architecture and high-speed FIX connectivity, he says.