The FX trading system provides traders with desktop access to competitive tradable prices, real time streaming charts and news, technical analysis, reporting and communication tools.
With the new upgrade, Penson introduces the concept of auto-dealing to its
FX clients. Traders connected to the system can act on live tradable prices by securing automatic and instantaneous executions on most of their deals. Auto-dealing is designed to increase the overall efficiency of the trading process by reducing delays and slippage costs.
Penson says this latest version also comes with a strong support for the FIX
protocol, which provides market participants with a standardized, convenient way to exchange real time financial data through a set of widely accepted digital instructions. By adding FIX support to its currency trading platform, Penson allows its clients to achieve connectivity between their own FX trading applications and its dealing desk.
Penson says that two years after the original launch, the system has grown to serve over twenty brokerage firms, with a daily trading volume increasing to more than $100 million.
