London-based Fixnetix has announced a strategic alliance with New York-based Forex software company MarketFactory. The partnership seeks to expand the FX spot market by providing instant trading connectivity to algorithmic traders from futures and equities.

“We are thrilled to join forces with MarketFactory to provide FX trading gateway software to our global trading customer base of leading investment banks, hedge funds and prop desks,” says Hugh Hughes, Chief Executive, Fixnetix. “MarketFactory understands the complex, opaque market structures in institutional currency trading and is the leader in presenting lossless market data to high frequency trading strategies.”

The cash FX market contains $500 billion in daily liquidity representing enormous alpha opportunities for all asset class high frequency traders.

“There’s a much higher purpose to this initiative,” said James Sinclair, CEO, MarketFactory. “There are over 3000 algorithmic traders in other asset classes who have yet to explore the institutional currency markets. We’ve contributed our deep understanding of the many microstructures into a transparent package of software and services that will allow instant access to these markets for both buy side and sell side participants. The goal is to really increase counterparty diversity and therefore liquidity.”

Source: Automated Trader