August 15, 2011

FX Fifty Five, the FX division of Market Securities Kyte Group, has deployed MaxxTrader, a white label trading system for sell-side institutions operating in the foreign exchange markets.

Built by Adil Soyfoo and Nathan Halfon, FX Fifty Five is a specialist electronic FX markets execution venue that delivers low latency access to tailored FX liquidity pools via GUI and API.

MaxxTrader is a product from FlexTrade Systems, maker of multi-asset execution and order management systems.

"We are delighted with our partnership with FlexTrade," say Halfon and Soyfoo in a press release. "MaxxTrader not only helps us provide a high standard of customer service, but it also manages and polices our liquidity in a highly efficient way, which is crucial to operating a pure FX agency."

According to Vijay Kedia, president and CEO of FlexTrade, building a viable trading platform in-house can be challenging for many firms interested in entering the fast growing FX market. "It certainly can be costly and time consuming," he says. "With MaxxTrader, FX Fifty Five sidesteps that process with a platform that allows them to maintain their brand identity while leveraging our cutting-edge trading technology."

Already deployed this year by five other institutions trading in FX, MaxxTrader is a complete turnkey, ASP front-end solution allowing orders to trade directly from client to client, directly with the trading desk, or back-to-back with all liquidity providers. Designed to allow institutions to privately aggregate and issue price information to the markets and clientele, the platform offers real-time prime broker reporting, an integrated OMS to better manage orders, and aggregated liquidity from more than 40 banks, ECNS and exchanges.

Phil Albinus is the former editor-in-chief of Advanced Trading. He has nearly two decades of journalism experience and has been covering financial technology and regulation for nine years. Before joining ...