FXecosystem, the low latency trading infrastructure provider to the world's global foreign exchange market, has completed a Series A funding round from both New York and London based investors.
Richfield Capital Partners, a New York based telecom investment bank, and a European based private equity consortium have provided the funding.
"As is the case with every investment I have made, FXecosystem is uniquely meeting a specific customer need. They are leading the change in the marketplace and therefore have an outstanding future," said Gary Sugarman, Managing Member of Richfield Capital Partners. Mr. Sugarman has been an investor in numerous telecom/data companies over the last 17 years.
Jock Percy, chief executive of the New York company, said the money would fund global expansion.
"We are creating a new standard for the global FX market that provides market participants with far better options on speed, cost and risk. The majority of daily FX trading takes place between London and New York, and we are delighted that our funding partners reflect that same geographic dynamic and understanding," he said.
The company offers a solution to the Foreign Exchange (FX) market that increases the speed of trading and information between banks, hedge funds, brokers and vendors. It has a growing number of direct links to the major players and has designed a market specific telecom hardware solution which now means trade data can reach financial institutions anywhere in the world in milliseconds.
FXecosystem offers this innovative and effective proprietary technology, the FX Meet Me Room, to solve the widespread market need for speed - by taking an existing, proven architecture in the telecom world and transplanting it into the foreign exchange trading world.