GTX launches high-speed binary market data protocols on its FX ECN 

GTX, the institutional foreign exchange trading arm of GAIN Capital Holdings Inc., announced today it has launched live market data binary protocols free of charge to clients of its ECN trading platform. GTX developed the binary protocols to meet requests from algorithmic traders, including market makers, who can use the protocols to deliver more robust liquidity. Market participants can achieve a substantial reduction in processing time and memory usage when decoding incoming market data, enabling them to trade and make markets on the ECN more quickly.

“We are pleased to provide live market data binary protocols to our most data intensive market participants,” said Steve Reilly, Head of Liquidity at GTX. “Binary market data protocols will expand the utility of the GTX ECN to algorithmic traders, with the goal of providing more robust liquidity to all market participants.”

The GTX binary market data protocols include GTTP, a proprietary binary protocol based on a new framework currently being standardized by the High Performance Working Group of FIX Protocol Limited. Benefits include microsecond-precision timestamps, and a choice of using either the User Datagram Protocol (“UDP”) or the Transmission Control Protocol (“TCP”).

GTX posted a record year-to-date volume record of USD 17.8 billion (single count) on January 29, 2016. The record was comprised of USD 14.6 billion ECN volume and USD 3.1 billion executed by the swap dealer on an agency basis. GTX publishes its daily trading volumes on its website, www.gaingtx.com.

The data includes spot FX volume traded on the ECN as well as spot, swaps, options and non-deliverable forwards (NDF) executed by GTX’s  swap dealer agency desk and Swap Execution Facility.

Source: Gain Capital

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