Company Extends Powerful Fortex Trading Capabilities Directly to Traders and Broker Dealers
REDWOOD SHORES, Calif., Dec. 4, 2014 /PRNewswire — In a move that extends the powerful Fortex currency trading platform to end users, Fortex, Inc., today announced Fortex 6, its new cloud-based trading application and algo-ready development engine for traders. The introduction of Fortex 6 also represents Fortex’s debut as a platform vendor that now sells its revolutionary FX trading solutions directly to end users and broker dealers.
Fortex 6 places the power and market depth of the Fortex platform directly in the hands of individual traders. It delivers sub-millisecond speed and high availability combined with direct access to interbank liquidity and razor-thin spreads through the Fortex platform, which processes more than half a million orders per day.The intuitive Fortex 6 interface is designed with the mobile and browser users experience in mind to optimize desktop, web-based, and mobile trading. With the AlgoX algorithmic trading engine, users also can script their own auto¬mated trading strategies.
The launch also marks Fortex’s new expanded market strategy. The Fortex platform was the first to provide neutral, direct access to currency liquidity pools in 1997. Since that time, it has been white-labeled for a handful of leading global currency traders and liquidity providers. Today the Fortex platform is available to all FX broker dealers and traders.
"We see tremendous opportunity for offering a solution that gives traders direct access to liquidity pools with the interface and scalability needed in today’s markets," said Daniel Chen, chief executive officer and co-founder of Fortex. "We’ve waited for technology to progress to the point where we can deliver power, scale, ease of use, and affordability in a single solution. Now it’s time."
Fortex 6 taps the proven power of the Fortex platform, housed at Equinix NY4 with fiber cross-connection to banks and liquidity providers, giving traders real-time access to Tier 1 liquidity from all major money center banks. The Fortex 6 elegant user interface integrates operations to provide single-click order entry, support for sophisticated order types, and access to ticket-based and volume weighted average pricing.
As a cloud-based solution, Fortex offers easy, "anywhere" access and eliminates the complexity associated with purchasing, deploying, upgrading, licensing, and maintaining additional infrastructure. Unlike other software applications, there are no continuous upgrades, licensing fees, maintenance, or support fees.
"Fortex has played a significant part in the success of Interbank FX, from our founding in 2001 and growing into a world leader in retail foreign exchange trading," said Todd Crosland, founder and former chairman and chief executive officer of Interbank FX. "Fortex helped us grow from a few traders to presence in more than 140 countries and $80 billion per month in trading volume."
The Fortex platform is designed for high-frequency, low-latency performance and optimized for buy-side and sell-side institutions. It directly aggregates Tier 1 liquidity from all major money center banks and venues. The Fortex XCloud server grid offers dedicated dark fiber connections, eliminating the need to use the public Internet and delivering sub-1ms speed and 480-Gbps throughput. The powerful Fortex XBook matching engine works as an ECN, representing each trader’s order in the interbank market to match with the best liquidity available, including hidden liquidity pools. Firms and traders using MetaTrader can access the Fortex platform through Fortex Bridge OMX middleware to gain unified global execution venues and aggregated segmented liquidity pools.
For more information about Fortex 6, visit http://fortex.com.
Fortex is the world’s leading FX trading platform, with $12 billion in currency trades and 500,000 tickets a day for tens of thousands of traders around the world. The company’s powerful Fortex platform, Fortex 6 application for traders, sophisticated cloud infrastructure, and middleware solutions revolutionized currency, commodity, and equity trading beginning in 1997. Today, traders, broker dealers, market makers, money managers, banks, hedge funds, and investors around the world rely on Fortex to accelerate trade execution and support sophisticated trading strategies. And the most successful currency trading firms have built their FX businesses on the Fortex platform. Fortex is headquartered in Redwood Shores, California with offices in New York and Hong Kong. The company is privately held.