FastMatch Selects Caplin to Develop FX Matching Platform
FastMatch, the foreign exchange (FX) electronic communication network (ECN) co-owned by BNY Mellon, Credit Suisse, and Forex Capital Markets (FXCM), has chosen Caplin Systems to develop a new electronic distribution platform for its spot-FX matching service.
FastMatch will implement Caplin FX Motif, a customizable FX web-based trading solution chosen for its ability to reduce time-to-market by up to 75 percent, as well as pin down costs.
"Our platform is based on the technology underpinning the world's largest equities crossing system," says Dmitri Galinov, CEO of FastMatch. "So when it came to the front end, we needed to implement an equally impressive solution. When we looked into it, there was only one vendor we trusted to deliver to our standards within the time and budget constraint."
The ECN offers users access to a transparent pool of diversified liquidity routed through two datacenters in New York and London, and is expecting to open a third center in Tokyo in the first quarter of 2014.
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