North American FX broker technology firm Boston Technologies has announced a major upgrade to its BT FIX API solution.
The firm’s recent development represents yet another provider of trading solutions to the retail FX industry embracing contracts for difference (CFDs), a dynamic which has been increasingly prevalent over recent months among brokerages, technology providers and platform firms alike.
In this particular upgrade, Boston Technologies provides the ability to trade CFDs via the firm’s FIX API in addition to FX pairs and metals, spanning across two order types which have now been made available. These order types support price movements and have arrived on the scene under the designations LIMIT FOK (fill or kill) and Market, hosted at the NY4 Equinix datacenter in New York, USA.
Traders which are clients of brokerages using Boston Technologies’ solution will now be able to access their corporate accounts via BT Xware trader and view real-time pricing, as well as being able to initiate manual order entries and access their account status and accounting reports on a real time basis.
In order to satisfy the vast majority of regulated markets in which Boston Technology provides its solution to brokerages, leverage under the new account types is 100:1 as a maximum level, and the margin deposit currencies are USD,EUR,GBP,JPY,CAD, and AUD.
The system allows daily swap updates (apart from CFD products on which there is no swap) and allows both order types via the same connection.
Competition between specialist broker technology firms has become fierce during recent times, leading to a necessity to cater for all asset classes and appeal to a wide audience.