eFX trading solutions provider TradAir has launched its latest product, a real-time trade analytic engine called TradAir NOW.
TradAir NOW drives platform profitability for forex brokers by empowering firms to more competitively price, and profitably hedge FX flows. It leverages Google BigQuery, provides massive performance and scalability.
With TradAir NOW, banks and brokers are able to more competitively price client orders, and more profitably and risk efficiently hedge resulting flows:
- Optimize FX Liquidity: Optimize LPs, based on pricing metrics: reject rates, last look latency, spread, and % top of book.
- Improve client profitability: Understand behavior, optimize client spreads based on metrics: hit rates by curr pair, trade size, channel
- Manage toxic flows: Identify ‘toxic flow’ that requiring hedging or removal, by analyzing metrics of ‘trade profitability decay’
- Grow client wallet share: Identify top clients by vols/profitability, and optimize client pricing, based on hit rates/per curr
How is TradAir NOW different from the company’s current offerings?
LeapRate spoke with TradAir VP Marketing Paul Blank who stated:
TradAir NOW takes our existing analytical capabilities to another level. Up til now, it was about trade analytic’s of FX flows through the TradAir platform. With TradAir NOW, we extend that capability, by integrating (in near real-time), a firms trade data from across all execution channels. TradAir NOW enables a firm to analyse trade flows across all execution channels.
With over 70% of global FX volumes now traded electronically, a key factor in the success of any bank or broker e-FX platform is the ability to understand the trading behavior of clients, and the
characteristics and quality of liquidity providers, and be able to continually optimize pricing and liquidity provision in response to changing behavior and market conditions.
TradAir claims that TradAir NOW delivers unprecedented real-time analytical insight into the key performance metrics that impact the FX flows and ultimately profitability of an eFX platform.
According to Matthieu Mayran, Google BigQuery:
Extracting, analyzing and presenting the vast amounts of real-time data generated by trading platforms can be technically challenging. But TradAir’s solution makes this much easier, and helps their customers to gain deep insight from their trading data.
More on TradAir NOW can be seen here.