ION MarketFactory wins ‘Best FX Technology Provider’ at FX Markets Asia Awards
LONDON – 25 August 2022: ION, a global provider of trading, analytics, treasury, and risk management solutions for capital markets, commodities, and treasury management, announces that ION MarketFactory has won ‘Best FX Technology Provider’ at the FX Markets Asia Awards.
The annual award program recognizes the Asian-Pacific region’s best banks, dealers, brokers, and currency managers. For the 2022 awards, the judges were looking for firms that developed unique and innovative ways to respond to the disruption and other challenges faced by the foreign exchange (FX) markets during the coronavirus pandemic.
The Best FX Technology Provider category recognized the business delivering the best technology to the industry in the APAC region between June 2021 to May 2022, adapting its services to cater to changing market conditions. MarketFactory secured the honors for its superior ability to adapt and operate strongly despite the turbulent market conditions and prolonged market data spikes.
A financial technology company that provides software-as-a-service and connectivity to currency markets, MarketFactory gives clients access to the entire FX market, regardless of location, workflow, protocol, instrument, or liquidity provider. MarketFactory’s flagship product, Whisperer, is a single API that connects to more than 150 FX APIs with a market-leading speed of 5–7 microseconds, up to 1,000 times faster than other market solutions. Whisperer provides broad and in-depth coverage for all FX workflows and instruments (spot, forwards, NDFs, and swaps); and also covers equities, energy, rates, and agriculture, through MarketFactory’s futures products.
Despite the market challenges during the 12 months evaluated, MarketFactory’s customers experienced no connection issues. The MarketFactory API and platform experienced no problems handling the marked increase in data, and the spikes around monthly non-farm payroll numbers. Whisperer performed impeccably as a high-throughput, low-latency product. It handled over 100,000 messages per second and maintained ultra-low latency.
Attesting to MarketFactory’s contribution to the APAC FX industry, the business is a strong partner of the Monetary Authority Singapore (MAS). MarketFactory has helped many banks go live in the Singapore data center, allowing them to consume and provide liquidity to the local market.
In the last year, MarketFactory added new feeds for 38 venues. MarketFactory’s solutions now support direct connectivity points in CHI, NY4, LD4, TY3, and most notably, Singapore’s Equinix SG1 data center. MarketFactory helps global FX firms establish a Singapore footprint and connect to local markets. Clients in the Asia market avail MarketFactory’s global presence for co-location needs in international data centers, and non-Asian clients use its Singapore presence to serve customers in Asia.
“We are pleased to have won the ‘Best FX technology provider’ category at the 2022 FX Markets Asia Awards,” said Eugene Markman, CEO of ION MarketFactory and COO of ION Markets (FX). “The accolade confirms that the MarketFactory solutions successfully address market complexity, freeing traders to focus on pricing, hedging, and generating alpha.”
He adds that, in addition to connectivity, MarketFactory also offers exceptional historical market data, risk, and infrastructure solutions. “The combination is powerful. For example, the MarketFactory Nexus product suite solution enables clients to improve their performance across all our applications without requiring their own circuits. And MarketFactory Reflector provides safeguards for prime brokers, eFX desks, and systematic funds, efficiently managing taker and maker trading messages between the counterparty and trading venue.”
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About ION Group
ION Group provides mission-critical trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporates. Our solutions and services simplify complex processes, boost efficiency, and enable better decision-making. We build long-term partnerships with our clients, helping transform their business for sustained success through continuous innovation. For more information, visit https://iongroup.com/.
About ION Markets
ION Markets provides transformative technology and solutions to financial institutions dealing in equities, fixed income, foreign exchange, cleared derivatives and secured funding. Our award-winning end-to-end solutions simplify clients’ operations by automating the full trade lifecycle, providing tools to manage risk, and maximizing access to liquidity, while giving real-time access to critical information required for timely operational decisions and execution on a global scale. For more information, visit https://iongroup.com/markets/.