FastMatch, an ECN matching system for forex trading whose ownership includes FXCM (NYSE: FXCM), Credit Suisse and BNY Mellon, has just announced the launch of a new web site for the service, , publishing daily trading volume in real-time.
The new FastMatch website introduces “the tape” to the FX spot and metals markets, a real time stock ticker tape styled feature. For the first time ever, anyone can see all trades executed on the FastMatch platform. While the concept of “the tape” is standard in other asset classes such as equities and futures, in the FX spot industry this is something that has not existed for the general public.
“FastMatch is increasing the transparency level of the FX market to be on par with other asset classes,” said Dmitri Galinov, CEO of FastMatch. “This is something we know our clients want and something we believe the institutional FX space needs.”
FastMatch currently runs three independent matching engines globally in New York (NY4,) London (LD4) and Tokyo (TY3.) Each matching engine acts as separate ECNs and will emit their own market data, trades and midpoint values.
FastMatch’s matching system offers customers a diverse pool of liquidity with low latency and transparency. Most of FastMatch volumes are generated by the global Tier 1 banks, which are connected to each matching engine separately.
The new website will also provide insight to the top currency pairs by region with total volume associated to each pair. The previous FastMatch site is still active at fastmatchfx.com. The company did not disclose the cost of the new domain at this time.