‘Providing low latency, accurate pricing is essential and Velocimetrics has played an instrumental role in helping us to confidently deliver even faster pricing- Gautam Dixit, Head of Pricing and Analytics at City Index
Velocimetric is a privately owned UK based company that specializes providng financial services expertise, with an on-going investment in its innovative solutions, basically for industry business-flow monitoring and providing access to bespoke performance management solution of choice. City Index Group, a broker providing online financial spread betting, Forex, and CFD trading was today confirmed to have implemented velocimetrics to further ensure the delivery of ultra-fast and high quality foreign exchange (FX) pricing.
This will ensure the ability to detect possible time delays in data received from liquidity providers, or latency impacting price production and distribution, as is essential in ensuring pricing accuracy and business success. The solution provides City Index with the ability to instantly detect the emergence of latency and issues occurring with the aggregation of data used to calculate prices, further enhancing the quality of service City Index offers across the thousands of different FX instruments it prices. This enables the business to trace the formulation of tradable quantities, such as particular currency pairs; from the moment encrypted data is received from multiple OTC liquidity providers, right up to the point that prices are distributed out to clients.
Steve Colwill, CEO at Velocimetrics stated:
‘Market needs are evolving, users want to understand, in business meaningful terms, the effect that latency may be having on clients, prices and trades. In today’s automated trading environment the ability to effectively control the quality of the data being used to generate tradable prices and how the wider business is being impacted by delays in the price production process, is fundamental to effectively managing issues when delays occur.’