Fortex Daily FX Trading Volume Hits $12 Billion
REDWOOD SHORES, Calif., Oct 1, 2008 – Fortex, Inc., the leading provider of independent, real-time multi-asset trading platforms, today announced that its average daily FX trading volume hit $12 billion by the end of June, more than doubling its previous high of $5 billion at the end of March.
The company credits its innovative server technology with the ability to support unmatched speed and scalability. Implemented in the Fortex Transaction Server (FTS), the company’s proprietary software reduces average roundtrip trade times by 80 percent – to only 5 milliseconds – and supports concurrent order processing of 500 orders per second. The new technology represents more than two years and US$5 million in research and development efforts. As the Fortex FX trading platform has steadily added global liquidity sources and demonstrated strong customer adoption, it has transparently scaled to meet increasing system demands while simultaneously delivering unsurpassed trading performance.
“Fortex FX has proven itself in global FX trading and our platform enhancements will enable it to continue setting new standards for scalability and speed,” said Daniel Chen, CEO and co-founder of Fortex. “We remain committed to significant research and development efforts that will continue to support the needs of the world’s leading banks and help them to add unique value to their FX offerings.”
Fortex FX is integrated with leading banks, including Citi,Bank of America,Barclays Capital, Goldman Sachs, and JP Morgan, and supports more than 40,000 high-velocity trading accounts worldwide. The Fortex FX platform is also the only FX trading platform to deliver advanced features such as fully automatic pre- and post-allocation capabilities, scalping detection and rejection, domain-based quotes, auto hedging, internal matching, and superior real-time risk management—even when integrated with the popular MetaTrader system.
The new technology is available to Fortex FX customers today.
Fortex is the leader in developing and deploying world-class, multi-asset trading systems for foreign exchange, equities, options, and futures trading. Only Fortex delivers completely neutral, real-time platforms that provide direct access to all global exchanges and leading market makers through a single trading interface. The company is privately held and headquartered in Silicon Valley. For more information, please visit www.fortex.com.