GTX, the institutional Forex trading division of Gain Capital Holdings Inc (NYSE:GCAP), announces the launch of live market data binary protocols free of charge to clients of its ECN trading platform.
GTX has created the binary protocols in response to requests from algorithmic traders, including market makers, who can use the protocols to deliver more robust liquidity. Market participants can achieve a significant reduction in processing time and memory usage when decoding incoming market data, allowing them to trade and make markets on the ECN more quickly.
Steve Reilly, Head of Liquidity at GTX, says,
“We are pleased to provide live market data binary protocols to our most data intensive market participants. Binary market data protocols will expand the utility of the GTX ECN to algorithmic traders, with the goal of providing more robust liquidity to all market participants.”
The GTX binary market data protocols include GTTP, a proprietary binary protocol based on a new framework currently being standardized by the High Performance Working Group of FIX Protocol Limited. Benefits include microsecond-precision timestamps, and a choice of using either the User Datagram Protocol or the Transmission Control Protocol.
The latest data from Gain Capital shows its ECN trading volumes jumped 31.3% year on year in February 2016.
You can view the full announcement from GAIN by clicking here.