Does it have a FIX Engine?
Yes. The MARX system has it’s own FIX engine which makes it simple to seamlessly add providers for distribution of market data and order routing.
What is order Emulation?
Emulation allows users to develop and use sophisticated order types (OCO’s, trailing stops, Triggers) even if your provider doesn’t support them.
Does it have a Matching Engine?
Yes it is a matching engine but also an ECN engine. The matching engine will match incoming market orders or marketable limit orders to the existing liquidity from your customers. But if there is no matching liquidity from your customers, it will proceed to route that order to an external provider or the companies bbook. Very handy when dealing with MT4 order flow.
What makes your Metatrader bridge different?
Our bridge technology will export pending orders (limits) to your providers. Typical bridge technology will only issue market orders to your providers eliminating the possibility of payment for order flow or being able to participate as a maker to a liquidity book.
What is a Market Data Manager?
The market data manager initiates subscriptions to market data from external providers, like Barchart or Interactive Brokers but also from any internal order books the firm has working. Once the subscription is enabled, markups, markdowns, custom instruments and aggregation can be performed on the instrument.
What is a Order Management System?
The order management system handles order event streaming to external or internal order books. It manages orders on a strict price time priority. It allows managing your order flow across multiple providers.
What is a Execution Management System?
Execution management deals with the life cycle of individual orders or strategies. Execution management can be used by the firm to handle flow from different customers or IB’s for market making opportunities. Or to allow client to construct complex rules for placing and canceling orders.
Can we build our own strategy’s?
Yes, clients can build strategies for their own trading and the firm can build its own execution algorithms for order routing or execution management functions.
Can we back test?
No, there currently is no facility for replaying historical pricing. However, strategies can be run using the simulator exchange to return executions.
Can we aggregate?
Yes, either aggregate pricing from multiple quote distributions or to aggregate depth of book liquidity from external providers.
Is your system instrument agnostic?
Yes. Crypto Currencies, Equities, Futures , CFD’s and Private Equities along with custom instruments. These are homemade securities which can emulate ETF’s, Money Manager pools or commodity pools.