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Bringing together real-time FX market data quality assessment and transaction tracking to instantly detect health issues impacting FX broker profitability

26th Oct 2015

Beeks Analytics (formerly Velocimetrics), the provider of real-time business flow performance monitoring and analysis solutions, today announces the ability to assess the live performance of price information sent between FX brokers and trading partners via FIX and other protocols. In doing so, instantly alerting brokers to issues impacting market data quality or client communications that could negatively impact trading profitability.

Many FX brokers rely on their FIX engines to effectively send and receive electronic communications with liquidity providers and clients. If a FIX engine is not, for example, receiving all expected FX pricing streams from all providers due to connectivity issues or technical problems impacting the provider’s IT systems, or not publishing timely and accurate prices to all clients because of internal issues, the results can be costly. In these situations, FX brokers can find they are:

  • Publishing potentially unprofitable or uncompetitive prices calculated using incomplete or delayed pricing data
  • Unknowingly providing clients with delayed responses to requests for quotes or order placements

Applying proven technology in a novel way, Beeks Analytics is able to provide detailed insight to FX brokers; not to simply detect whether a gateway is up or down, but to provide sophisticated analysis of the quality of individual price streams, right down to the symbol and bid/ask field level. Analysing the data being sent and received by FIX engines to assess its completeness and timeliness, Beeks Analytics will instantly alert users to unanticipated behaviour or the breaching of thresholds that could lead to trade profitability, operational risk or client experience concerns.

By continually assessing incoming pricing streams, Beeks Analytics can instantly identify if any individual stream is missing or if there are abnormal pricing tick delays on a given stream. Beeks Analytics can also assess the frequency that trading messages are transmitted and received between the broker and its clients, and raise immediate alerts should communication levels unexpectedly decline or if response times exceed broker-defined limits. Beeks Analytics then provides users with detailed, live and completely customisable business and technical level analysis, enabling the problem to be effectively investigated and its impact on orders, trades and clients rapidly quantified.

Commenting on this announcement a representative of Beeks Analytics stated:

‘FIX engines play a vital role in FX trading, so being able to instantly detect degradation in the quality of communications traversing these fundamental systems has the potential to increase trading accuracy and generate significant cost savings for the FX broker community.’

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