MarketFactory and Elysium Technology Group to provide API technology integration to the FX market

MarketFactory, the foreign exchange technology platform, has just announced that their API, Whisperer, completed integration with Elysium Technology Group, an innovator in trade processing solutions for FX and futures, middle and back office product, Mission Control. A global investment bank was the first customer to go live with the integration last month.

By leveraging Whisperer and Mission Control, a firm has the option to connect to over 80 FX venues while simultaneously monitoring their positions, credit, reconciliation and P&L. The two systems combined empower customers to have full operational command of their trading business and complete trade lifecycle from point of execution to settlement.

Whisperer is a low-latency API that connects a trader to over 80 ECN/Bank/Non-Bank FX venues for market data, trading and market making. The FX market continues to fragment with traders accessing more venues, recently evidenced by a BIS paper that showed from 2005-2015 the share of trading executed on primary ECNs has been falling.

Additionally, due to client demand, MarketFactory is in the final stages of releasing a new version of Whisperer called Whisperer Enterprise that supports FX trading connectivity for all instrument types (except options) for making and taking.

Elysium Technology Group is the ideal partner for us as we are both focused on delivering technology solutions that allow the buy-side to focus on alpha, pricing, hedging and risk management,” said Christian Reiss, director of sales, MarketFactory.

Mission Control is cloud-based enterprise solution that enables FX trading operations to automate and optimize middle and back office functions. It provides an innovative live dashboard for the monitoring and reporting of client positions, trades, credit, and P&L across any FX prime broker and execution venue via Elysium’s TradeTracker Connectivity-as-a-Service network.

Roque Castro, head of product and business development for Elysium added:

We have found tremendous synergies between our business strategies and FX technology capabilities. MarketFactory’s highly experienced team made the integration process run smoothly. I am excited by the enhanced value of our combined offering.

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