London, 16 September 2021 – CMC Markets Connect (“CMC”), a leading global provider of liquidity provision and trading technology solutions, has announced an upgrade of its technology stack to facilitate SpotFX pricing. By leveraging Quod Financial’s FX Market Making (MM) expertise and its AI/ML-powered algorithms, latency across existing infrastructures has been reduced, shaving valuable microseconds off transaction times.
CMC’s trading engine optimises price feed management and is delivered in a single feed for clients. The solution provides consistent competitive pricing and improves liquidity offering for clients, with access to 63+ Spot FX pairs and precious metals.
At the core of its technology resides the extensive application of Quod’s shared memory communication for low latency trading, inflight data manipulation and AI/ML-powered decision making. The technical integration between Quod’s quoting servers and CMC’s trading engine optimises price feed management, powering CMC’s ability to act as a liquidity maker.
Richard Elston, Group Head of Institutional at CMC Markets, said:“When outsourcing technology, we always look to partner with best-in-class providers for each project. Quod offered an excellent fit for our new SpotFX product, by enabling us to outsource the most commoditised elements of our price discovery process to them. Most notably, their Smart Order Routing (SOR) technologies have helped drive down price latency, shaving valuable microseconds from our processes.”
Medan Gabbay, Chief Revenue Officer at Quod Financial, commented:“This deployment represents the perfect merger between CMC’s unique expertise in FX markets with our years of R&D in Capital Markets technology. Our core engine, algos, automation and data suite sit underneath the intelligence delivered through the CMC trading engine.”
About CMC Markets Plc (“CMC”)
CMC Markets Plc (“CMC”) was established in 1989 and is now listed on the London Stock Exchange. The company is one of the world’s leading online financial trading businesses serving retail and institutional clients through regulated offices and branches in 12 countries, with a significant presence in the UK, Australia, Germany and Singapore. CMC Markets offers an award-winning, online and mobile trading platform, enabling clients to trade over 11,000 financial instruments across shares, indices, foreign currencies, commodities and treasures through contracts for difference (“CFDs”) and financial spread bets (in the UK and Ireland only). Clients can also trade on the short-term price movements of financial markets through Countdowns and, in Australia, access stockbroking services. CMC Markets plc’s shares are listed on the London Stock Exchange (CMCX).
About Quod Financial
Quod Financial is a low latency provider of specialised FX, equities and derivatives trading technology. Quod’s OMS/EMS brings automated trading and innovation to the sell-side and buy-side – specialising in software and services such as Algorithmic Trading, Smart Order Routing (SOR) and Internalisation of Liquidity. Quod leverages the use of its data-driven architecture to support the demands of e-trading markets by combining AI/ML-enabled decision-making tools and dynamic market access with a non-disruptive approach to deployment. For more information visit: www.quodfinancial.com
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