Marketplace : FX serves up a dish of connectivity spaghetti

Jon Vollemaere
co-Founder of FXecosystemJon Vollemaere, co-Founder of FXecosystem shares some thoughts on
low latency trading for FX and some pasta recipes.
Where is the Foreign Exchange…?
Last year a colleague in the equities low latency game called and
asked where the Foreign Exchange was located? He wanted a
high-speed connection to it! After some explanation to him, I was
struck by two thoughts. One, by my count there are at least 12
Banks, 6 ECN's, 3 vendors and even a few funds that provide a
decent amount of FX liquidity. So that gives us well more than 21
'foreign exchanges' and the trouble is - they aren't in one
place, not even in one continent, and that's before we start to
talk about regional pairs or time zone gaps.
The other thought was one of the relative difficulty of bringing
equities technology into an OTC market like FX let alone the idea
of bringing in new telecommunications technology.
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