Following the direction of a series of large banks which have recently integrated their precious metals desks into the same business unit as FX, New Zealand based brokerage OMF has selected Quotix to support its metals and FX platform provided by Spotware Systems
The compatibility of precious metals trading alongside the highly liquid currency market which has been embraced by some of the world’s largest financial institutions recently appears to be echoed by retail brokerage firms as New Zealand-based brokerage OMF which has announced the selection of Quotix as a liquidity aggregator to support its FX and metals online trading platform, OMF cTrader.
According to Spotware Systems, the firm which developed cTrader, this particular solution is an aggregation engine that provides intelligent, built-in order routing algorithms to combine order sweeping and full amount execution, price filtering, and risk management rules. The engine further complements OMF cTrader with tools to optimize revenue sources and rich reporting capabilities.
James Davies, Senior FX Dealer at OMF says “We are confident that with the product suite of Quotix we’ll enjoy the enhanced spreads, improved fill ratios and a better trading experience for our clients”.
Quotix makes use of Equinix DCs and is co-located with major Tier-1 makers to enhance fill ratios and reduce execution latency for clients. Evgeny Sorokin, CEO of Quotix, made a corporate statement today: “We are very pleased to have OMF among our clients and happy to leverage their growth in FX and precious metals trading by providing our sophisticated solutions”.
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.