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Redline Trading Solutions enables low-latency FX trading on Cboe FX and Cboe SEF

NEW YORK27 March 2018 – Redline Trading Solutions, the premier provider of high-performance market data and order execution systems for automated trading, today announced support for outright deliverable foreign exchange (FX) forwards traded on Cboe FX Markets and non-deliverable FX forwards (NDFs) executed on Cboe SEF, the foreign exchange venues owned and operated by Cboe Global Markets.

Leading trading firms that are FX clients of Cboe using Redline’s InRush™ Market Data Ticker Plant and Order Execution Gateway can now receive market data and execute FX forwards on Cboe FX and NDFs on Cboe SEF – all on a single server. With support for 40 FX global feeds including Cboe FX’s spot feed, Redline improves fill rates and execution quality by providing a broader view of available liquidity to quickly capture best pricing.

“We are seeing significant interest in NDFs on Cboe SEF from our customers, and we are excited to be among the first providers to integrate with Cboe’s new venue,” said Mark Skalabrin, CEO of Redline Trading Solutions.

Redline customers can take advantage of Cboe FX’s and Cboe SEF’s novel capabilities in the FX industry, including:

  • A fully anonymous central limit order book with firm all-to-all trading available to all users;

  • Configurable firm and non-firm streaming quotes for tailored liquidity needs;

  • Curated liquidity pools to meet users’ execution criteria;

  • A diverse network of users resting passive liquidity and a wide distribution network for Market Makers; and

  • Pre-trade Net Open Position (NOP) credit checks and real-time risk management.

The Dodd-Frank regime, enforced by the Commodity Futures Trading Commission, mandates that certain market participants trade swaps such as NDFs on swap execution facilities. Market participants can trade NDFs on emerging markets currencies for the first time on Cboe SEF.

“Cboe is committed to enhancing the way outright deliverable forwards and NDFs are transacted in the market,” said Paul Millward, Head of FX Product Strategy at Cboe. “We are excited to see Redline Trading Solutions offer customers the ability to transact on Cboe FX and Cboe SEF on its ultra-low latency platform.”

Redline’s solution is available as a fully managed platform in London, New York, and Tokyo or as standalone software and is flexible to meet a variety of deployment configurations. Redline’s FX solution provides best in class single-digit microsecond tick-to-trade latency as well as robust pre-trade risk controls for trading participants.

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