Online trading services provider FXCM Inc (NYSE:FXCM) today announces a collaboration with software developer PFSOFT that will see FXCM provide trade execution and market data to the PFSOFT Protrader multi-asset solution through FIX API.
PFSOFT has integrated FXCM’s FIX API, which offers both FX and CFD execution. As a result of this collaboration, each broker that uses the Protrader solution will be able to access FXCM’s capabilities in both FX and CFD performance.
Roman Nalivayko, Global Head of Business Development of PFSOFT, said,
“PFSOFT is excited to offer our partners a fully integrated feed from FXCM. Combining the Protrader solution with FXCM’s robust liquidity we have created one of the world’s leading trading solutions for FX and CFD brokers.”
Brandon Mulvihill, Managing Director of FXCM Pro stated,
“PFSOFT is a long time specialist in the field of multi asset platform functionality. FXCM’s FX execution performance handles on average over 500,000 trades per day, and our newly developed enhanced CFD execution model was built to handle automated trading on products such as index CFDs. As brokers today mandate best in breed models, the combination of FXCM’s FX and CFD expertise coupled with PF SOFT’s array of instruments offered is an extremely robust and powerful combination for brokers globally.”
The partnership is announced after FXCM recently unveiled an important enhancement of their market making technology for CFD trading, enabling scalpers and algo traders to trade index CFDs without trade restrictions. FXCM’s back office allows for the combination of FX and CFD trading settling via one account.
FXCM has also expressed readiness to offer a credit facility to qualified Protrader brokers. Qualification standards occur through FXCM’s credit review process.
You can view the official press release on the collaboration by clicking here.