Active Traders: smart trading tools give you an edge

FXall Trading - One platform for multiple execution strategies

We offer active traders cost-effective trading solutions which combine access to an anonymous order book with streaming bank liquidity. This gives you the flexibility to do full amount trading, get a request for stream to leverage the strength of relationships, or both -- it's your decision. Our ECN delivers live dealable prices, full depth of book with the ability to place bids and offers in addition to anonymous trading. You have total control to assess market conditions to determine the optimal execution mechanism, all with one intuitive front-end user interface or a FIX API designed for algorithmic traders. Our cost-effective ASP model is easy to implement through standard protocols and leading vendor platforms eliminating the need to focus significant technology resources on integration.

Continuous deep liquidity

Multiple rate streams from FXall's liquidity providers offer active traders continuous prices, delivering instant execution with deep liquidity. With one click you can switch to QuickTrade, FXall's market-leading trading tool to get automated prices in exotic currencies with the flexibility to direct large transactions to a particular provider or prime broker, plus the ability to roll trades forward.

Key features - speed and reliability

With FXall, you'll get increased trading efficiency, together with greater pricing transparency, liquidity and aggregation of disparate FX execution venues. Ongoing hardware upgrades coupled with software enhancements allow us to deliver ultra low latency along with:

• Anonymous trading
• Full depth of book display
• Average weighted execution
• Exclusive customizable order types
• Aggregated liquidity sources
• One or two-click trading
• Real-time credit monitoring

Fast execution with deep markets for active traders

Active traders, such as hedge funds and CTAs can use any of our APIs - including FIX, Java* or Microsoft COM* - to automate trading which enables the processing of high transaction volumes quickly with the ability to tap into the deep liquidity offered by relationship providers. Our active trading solutions through FIX give active traders the flexibility to:

• Trade electronically on streaming dealable prices
• Execute directly using a rules based trading engine
• Integrate Bank Stream trading directly into existing systems

Complete post trade automation

FXall can handle your entire post trade workflow, including give-ups, on all FX transactions with each of your prime brokers through Settlement Center. Our prime brokerage package leverages Settlement Center's network of more than 70 banks and prime brokers to automate give-up messages on all FX transactions. Using our proprietary trade matching technology, trade details are matched between the executing bank and client. First, our proprietary trade matching technology matches trade details between the executing bank and client. Next, details of the match are sent to the prime broker. Finally, after matching a timely give-up receipt verification message is sent from the prime broker providing immediate official notification of the exact risk on any deal, minimizing concerns about the status of your give-up changing at some later stage.

Multiple order types

Helps you make smarter decisions, faster, and simplifies your trading.

• Variable TWAP Order : allows the trader to execute an order over a period of time while controlling market impact. Highly customizable, it works invisibly by sending pieces of the master order into the market on an IOC (Immediate or Cancel) basis at predefined time intervals. You may change time horizon, lot size, execution style, and market conditions such as spread and average fill price prior to submitting an order for execution.
• Stop Order: a stop loss or stop entry that establishes a trigger level that, once reached, launches an order to be executed according to predefined parameters. Users can define variables such has price limit, time delay and market spread.
• Pegged Order: move your order with the market bid or offer at a specified offset or number of points from the market quote. Passively gather liquidity as a market maker would to minimize market impact and spread costs. Variations to pegging are also available, such as: on bid, high bid by "x", below bid (or offer) by "x".
• Pegged Order With Discretion: allows the trader to be more aggressive in gathering liquidity while still having the opportunity to earn a spread by directing the system to trade on bids/offers that come within the discretion range of the posted order being worked at a fixed offset to the market. New orders entering the market within the discretionary range of the limit price will be executed, reducing the base limit order amount automatically.
• Market At Best Order: trade at the current best price without it being visible on the order book. If the inside price is not enough to fill an entire order, the remaining quantity is filled by subsequent price levels until the entire order is filled.
• Limit Order: post at the limit price or sweep all available market liquidity to the specified limit price so the aggressor gets any price improvement.
• Limit Order With Discretion: work a display price and additionally act aggressively to take liquidity based on the predefined "discretion." New orders entering the market within the discretionary range of the limit price will be executed, reducing the base limit order amount automatically.
• Limit Order With Reserve (Iceberg Order): a variation on the limit order that displays only a portion of the actual order quantity in the order book, while making the full amount available for execution if the offsetting interest is shown without losing time price priority.
• Hidden Order: rests invisibly in the order book to be filled by any orders entered at or better than the hidden order price. This order waits invisibly to pay offers or hit bids within the order parameters and can potentially receive price improvement in a positively trending market.

*Java is the registered trademark of Sun Microsystems; Microsoft COM is a trademark of Microsoft Corp.