The FX market, like many other long-standing markets, has been heavily changed from M&A activity. How does this impact connectivity? Confusion! Organizations that have been merged are rife with many versions of API specification documents. Systems are rarely retired, and it is extremely difficult to get the correct documents.
Because of the M&A activity, the different platforms in larger organizations are very similar and through time, knowledge and expertise have been lost from these organizations. There are numerous examples where we have asked different people at a company for specific API documents and received completely different documents each time, all incorrect! In addition to receiving the incorrect document, we have received wildly different versions of the same document.
In either case, you would think that you were given the correct document. This is confusing and dangerous because in developing to the wrong API specification you are wasting time and money. At MarketFactory we are experts at interacting with venues and have always coded to the latest specification.