Group Co.
Refinitiv Improves Latency for its FX Matching Clients
Traders Magazine Online News, May 6, 2019
Users of Refinitiv’s FX Spot and Forwards Matching now have access to lower latency and opportunities for cost savings following the migration of the solution to a new data centre.
Matching services are now run through Equinix Slough LD4 as their primary data centre and Equinix New Jersey NY4 campus as secondary. These enhancements significantly improve market data feed and round trip latency for Refinitiv clients while subsequently reducing complexity and cost in connecting to Spot Matching. Furthermore, the move improves the business continuity capabilities of the Matching service. The two data centres currently host a large majority of global FX infrastructure and services, including trading venues and market participants.
“Our clients rely on Matching as a key source of liquidity and price discovery, especially in times of market volatility for major currencies such as Sterling.” said Paul Clarke, Head of FX Venues, Refinitiv. “Matching delivers a powerful, cost-effective, and low-latency solution for FX traders, and our strategy is to simplify the solution for clients.”
“As a primary trading venue, determinism, resilience and redundancy are key metrics paramount to efficient FX market structure on which matching should be judged. The move to LD4 improves upon all of these metrics and is a market positive change to the Refinitiv ecology,” said Mark Bruce, head of FICC, Jump Trading.
Refinitiv Matching is one of the leading anonymous electronic trade matching services available in the global FX marketplace, providing real-time executable prices for over 60 Spot currency pairs and 30 FX Swap currency pairs. Matching is available through the Refinitiv FXT platform, allowing access to the largest global pool of interbank professional traders. Matching is part of a comprehensive portfolio of analytical and trading solutions offered by Refinitiv that support all segments in the FX trading workflow. Forwards Matching is a segment of the Refinitiv MTF, regulated under MiFID II rules.
Refinitiv daily FX trading volumes averaged $426bn in 2018.
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