NYSE TransactTools, a subsidiary of NYSE Euronext (NYSE Euronext: NYX), today announced that Currenex has been added as a market center on the Secure Financial Transaction Infrastructure (SFTI).
Currenex, which was acquired by State Street earlier this year, is a market leader in the foreign exchange market, providing execution technology and access to liquidity for banks, corporations, hedge funds and other active trading firms. Foreign exchange is the largest and most liquid market in the world with trading volumes of approximately $2.3 trillion per day. Connectivity to more than 60 global banks makes Currenex one of the deepest liquidity pools in Forex.
Through SFTI's high availability and low latency network, customers are able to receive market data and trade on Currenex using TCP/IP, XML and FIX. Currenex CTO Sean Gilman says, "Our customers value Currenex for its high performance and low latency. They depend on the speed of our technology to exercise their trading algorithms. Partnering with NYSE TransactTools extends the reach of our trading network by emphasizing performance."
"We are very pleased to add Currenex availability to our SFTI customers," added Sam Johnson, NYSE Euronext Executive Vice President and CEO of NYSE TransactTools. "It reflects our strategy of adding key market centers to SFTI that add liquidity for our growing and diversified global customer base."
Created in 2002, SFTI is the highly resilient, ultra low latency communications backbone dedicated to the financial industry. It offers connectivity to NYSE as well as other exchanges, market centers and content services providers, including all of the National Market System markets in the U.S., and also connects to over 800 market participants. SFTI provides open, standards-based access for data and trading. The OMS neutral FIX router enables customers to get to any destination through a single FIX connection.
SFTI was designed to be the industry's most secure and resilient network for electronic trading and was engineered to contain no single point of failure. All connections, equipment, power supplies and network links are redundant. Independent, self-healing se self-healing fiber-optic rings enable financial data traffic to move uninterrupted along another pathway should a SFTI fiber pathway be compromised.