The FXCM Group, leading provider of online fx trading, CFD trading, spread betting and related services has joined Fx Tape Streaming Service, operated by FastMatch, a Euronext NV (EPA: ENX) company.
The Fx Tape is centralized streaming service that provides a real-time market data feed to all the subscribing market participants. It aims to create transparency and help traders to spot and execute best trading strategies. The data comprises of a diverse market group of participating segments within global marketplace and with joining of FXCM, it will include its anonymized data.
FXCM’s participation in the FastMatch FX Tape is voluntary under open access model and Fx Tape will be offering commercial incentives to encourage ECNs to contribute data. The revenue shared to contributors will be on the percentage of net revenue generated by FX Tape according to the volume they have contributed with.
Brendan Callan, CEO of FXCM Group said:
“We believe the FastMatch FX Tape is a great step in improving post-trade transparency. It will serve as a reliable reference price for everyone as the tape will show confirmed trade rates instead of quoted rates. FXCM has always provided our clients with as much data as possible to increase transparency and aid in their trading experience. We applaud FastMatch for looking to do the same.”