Fenics FX is a highly efficient ECN that benefits Liquidity Providers and Liquidity Takers:
The Fenics FX platform supports:
- Trading of 55 currency pairs including spot metals
- In-depth transaction cost analysis (TCA) and market impact
- Bespoke liquidity pools for market makers and takers
- Both firm and non-firm liquidity
- Real-time liquidity updates
- Identified, disclosed feeds via Fenics FX Direct
Fenics FX is integrated with:
- Traiana Harmony
- Traiana Netlink
- Traiana CreditLink
Fenics FX also offers FIX drop copy.
Integration with Fenics FX is offered via FIX and ITCH/OUCH protocols
Credit is calculated on a Net Open Positon per Value Date.
Back-office integration includes:
- Direct bank straight through processing (STP)
- Multiple STP solution providers (e.g. ETG, Broadridge)
- Fenics FX can integrate with most 3rd party providers for back office processes.
Fenics FX supports the following order types:
- Market orders
- Immediate or cancel (IOC)
- Limit orders
- Iceberg/hidden orders
- Good to cancel (GTC)
- Time-weighted average price (TWAP)
Fenics FX also offers:
- Credit HUB for pre-trade credit check
- Prime brokerages (PBs) allocate credit to their clients to trade on the ECN
- All incoming orders are checked
- Credit alerts can be customized for each client
- In the event of a breach or potential breach, all open orders are cancelled and the market Data stream is disabled
- Client exposure is calculated on NOP (Net Open Position) across value dates.