Algorithmic Trading news articles - Penson Financial Services Canada Enhances Foreign Exchange Trading System With New Features
- Automated Trading News
- Algorithmic Trading News
- Data News
- Direct Market Access News
- Smart Order Routing News
- Electronic Crossing Network News
- Dark Pools News
- Quant News
- Exchange News
- Algo Appointments News
- Back Office News
- Event Processing News
- HPC News
- MTF News
- Complex Event Processing News
- EMS News
- Co-location News
- OMS News
-
-
-
http://www.autobahn.db.comYou need to upgrade your Flash Player
-
News Sections
- REGISTER Partial Site Access - Digital Editions - News Feeds
- SUBSCRIBE Full Site Access - Printed Magazine - PDF/Digital Edtions
Penson Financial Services Canada Enhances Foreign Exchange Trading System With New Features
Penson Financial Services Canada, a subsidiary of Penson Worldwide, Inc. (Nasdaq: PNSN), a leading provider of execution, clearing, settlement and custody services for the global securities markets, announced today the release of an upgrade for Penson FX, its foreign exchange trading platform, used by more than 20 brokerage firms globally.
Penson's FX trading system is available to Penson's clients worldwide and provides traders with desktop access to competitive tradable prices, real time streaming charts and news, technical analysis, reporting and communication tools.
With the new upgrade, Penson introduces the concept of auto-dealing to its FX clients. Traders connected to Penson FX are enabled to act on live tradable prices by securing automatic and instantaneous executions on most of their deals. Auto-dealing is designed to increase the overall efficiency of the trading process by reducing delays and slippage costs.
The new version of Penson FX also comes with a strong support for the FIX protocol, a feature highly sought by sophisticated financial institutions and trading desks. FIX protocol provides market participants with a standardiSed convenient way to exchange real time financial data through a set of widely accepted digital instructions. By adding FIX support to its currency trading platform, Penson allows its clients to achieve connectivity between their own FX trading applications and its dealing desk.
The FIX enabled version of Penson FX is particularly suitable for algorithmic arbitrage or proprietary trading, involving a black box application. In recent years, this segment has become increasingly popular as more and more market participants rely on computers to automate their trading decisions.
?Penson Canada is pleased to release an improved version of an already extremely well received platform,? says Rene Aoun, Foreign Exchange Manager at Penson Financial Services Canada. ?Two years after the original launch, the system has grown to serve over twenty brokerage firms, with a daily trading volume increasing to more than $100 million.?
click here to return to the top of the page
