Forex Capital Markets implements 29West messaging software
11 December 2007 | 2493 views | 0
29West, a provider of low-latency messaging technology, today announced that Forex Capital Markets (FXCM) has completed its migration from legacy messaging solutions and is in firm-wide production with 29West's low-latency messaging technology in its flagship Forex System Selector (FSS) system.
Servicing more than 100,000 real trading accounts with subsidiaries in London, Hong Kong, and Tokyo, Forex Capital Markets has firmly established itself as the leading participant in the online currency trading industry.
According to Yuri Miroshnikov, CTO of FXCM, trading volumes on the FXCM systems has been more than doubling every year, and the trend show no signs of slowing down. "We knew we needed to stay ahead of the curve by upgrading our systems to a higher performing messaging layer. We started working with 29West in 2005, and had systems in production in 2006. The success of these deployments made it clear we needed to move to the 29West Latency Busters Messaging (LBM) Solutions firm wide for all our low latency messaging needs. We have used a number of other solutions in the past, but the combination of performance, next generation design and world class support made 29West the clear choice. We are committed to providing the best infrastructure and the best platform in the industry. It was clear 29West provided the best solution for today as well as our future growth."
An important consideration in choosing a messaging solution was the support for Java as well as very low latency persistent message delivery. With 29West's Ultra Messaging for the Enterprise (UME), features like delivery confirmation and durable subscriptions are provided with sub 100 microseconds latencies.
"We were impressed with the focus and expertise 29West brings to the financial markets. Unlike our experiences with large firms who are focused on broad EAI solutions, 29West understood our business needs, worked closely with our team, and delivered exactly what we needed. The production cutover went flawlessly and the performance gains have made us very pleased with the choice of 29West as our partner." Said Alexander Ryssiouk, Director of Development, FXCM.
Mark Mahowald, President and Founder of 29West said, "FXCM has grown very rapidly by being an innovator in the market and providing a great solution with outstanding customer support. It was a pleasure to work with them to provide the high-performance messaging backbone for this industry leading solution. As latency and stability under load become more and more critical, we are seeing continued growth in the market for our Latency Busters Messaging (LBM) and Ultra Messaging for the Enterprise (UME) products. The trend is toward higher performance data delivery and that trend is forcing many firms to reconsider how they distribute and share data. This pressure towards low latency and high performance plays well for us, given our performance advantages over the other commercial messaging products available today."
29West's LBM is a fast, efficient, lightweight messaging system targeted specifically at low-latency, high-speed streaming messaging applications. UME is a low-latency, high-speed persistent messaging solution with delivery confirmation that is designed for larger firms that need a new messaging model to replace legacy messaging solutions enterprise-wide.