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City Index implements Velocimetrics latency monitor for FX pricing

08 December 2014  |  1561 views  |  0 Source: Velocimetrics

Velocimetrics, the provider of real-time business performance monitoring and analysis solutions to the global financial community, today announces that City Index, a leader in spread betting, CFDs and FX trading, has implemented Velocimetrics to further assure the delivery of ultra-fast and high quality foreign exchange (FX) pricing.

Producing tradable FX prices 24 hours a day, the ability to detect possible time delays in data received from liquidity providers, or latency impacting price production and distribution, is essential in ensuring pricing accuracy and business success.  The solution provides City Index with the ability to instantly detect the emergence of latency and issues occurring with the aggregation of data used to calculate prices, further enhancing the quality of service City Index offers across the thousands of different FX instruments it prices.

Employing both network and application monitoring techniques, to eliminate blind spots, City Index has gained complete visibility and highly accurate latency metrics across the entire price production process.  This insight enables the business to trace the formulation of tradable quantities, such as particular currency pairs; from the moment encrypted data is received, from multiple OTC liquidity providers, right up to the point that prices are distributed out to clients.

With this insight, City Index can instantly pinpoint possible time delays and tune their systems to ensure they can react even faster to changing market conditions and continue to deliver accurate pricing.  

The completion of this project follows the successful deployment of Velocimetrics earlier this year, within City Index’s equities price production infrastructure.  The equities initiative provided market data quality assurance and supported on-going efforts to effectively manage operational risk and ensure the continuous publication of fast, high quality equity pricing.

Commenting on the recent implementation, Gautam Dixit, Head of Pricing and Analytics at City Index stated:

‘Providing low latency, accurate pricing is essential and Velocimetrics has played an instrumental role in helping us to confidently deliver even faster pricing.’

Steve Colwill, CEO at Velocimetrics added: 

‘Market needs are evolving, users want to understand, in business meaningful terms, the effect that latency may be having on clients, prices and trades.  In today’s automated trading environment the ability to effectively control the quality of the data being used to generate tradable prices and how the wider business is being impacted by delays in the price production process, is fundamental to effectively managing issues when delays occur.’

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