Gain Capital, a global provider of online trading services, has launched Gain GTX, an independent foreign exchange (FX) ECN that provides qualifying financial institutions, hedge funds, CTAs, high frequency traders, broker/dealers and high net worth individuals access to diverse and deep FX liquidity sources.
GAIN's GTX trading platform is a fully anonymous trading environment that offers direct access and trade execution capabilities via streaming prices or Request-For-Stream (RFS) with a transparent view of both price and order book depth. The company's two main solutions are GTX Prime to Prime, for companies with pre-existing credit with a prime broker and GAIN Capital Direct Prime, for those without pre-existing relationships.
"There has been an incredible uptick in the adoption of algorithmic trading in the FX market," said Sang Lee, manager partner, Aite Group. "In light of continuous market structure changes and increasing participation of non-bank customers segments in the institutional FX market, plenty of opportunities exist for a new FX ECN with built-in flexibility and compelling value added functionality."
Key features of the GTX trading platform include an intuitive design that makes it easy to manage orders, query trades, and view deep pricing from anonymous - as well as disclosed - liquidity providers. Other capabilities include:
- Full featured FIX APIs as well as Java for easier integration
- Aggregate pricing from a hybrid pool of anonymous or disclosed liquidity providers
- Price depth with automatic size-adjusted average price (VWAP) display
- Real-time Straight Through Processing (STP) and historical trade query
- Order management; market, limit, stop, OCO, peg order types
- Two types of order routing: targeted or automatic based on participant's trading strategy
- Algorithmic plug-ins and trigger / if-done / auto-exit logic ideal for High Frequency Trading
"With an eye toward expanding our already strong presence in the institutional space, we recognized a need for a dedicated liquidity venue that gives FX traders greater price transparency, instantaneous trade execution and lower transaction costs," said Glenn n Stevens, CEO, GAIN Capital. "GTX puts the power of customization and automation onto a professional-grade platform built with the sophisticated institutional FX trader in mind."
GAIN GTX's robust offering provides an open architecture allowing traders to easily integrate orders, trades, pricing, as well as back office systems. Additional benefits include extensive reporting functionality with the ability to import and export from Excel and integration with Traiana's Harmony.