Baxter-FX Trading Platform

Baxter FX

Overview

BAXTER FX's Financial Services Ltd. is a global "Best Execution" and Technology group specialized in the Foreign Excange markets.

BAXTER-FX operates one of the worlds most competitive and liquid ECNs for trading Spot-FX. BAXTER FX believes that innovation, market knowledge, and technical expertise are the keys to enhance customer service. Combining over 15 years of specialised experience in these areas, BAXTER FX is able to offer the highest standard of institutional FX trading to all market professionals through proven trading functionalities.

BAXTER FX's responsive culture and expertise in currency markets enable a simple strategy: develop ultra efficient trading models according to the customer's environment and needs. By working closely with its customers and partners, BAXTER FX's Research and Development is helping to deliver trading solutions for the FX markets.

Features & Benefits

BAXTER FX's Currency-Dealing.NET platform offers a unique venue to end Users. It applies the principles of Exchange trading to the Inter-Bank Spot-FX Markets. BAXTER FX web interface offers a simple, cost effective way to experience access to the Inter-Bank market. It is quick, User friendly and all you need is a browser with the latest shockwave plug in. The combination of Order Types, Validities and Trading Functions allow sophisticated professional trading despite its simplicity.

In addition to the web based Shockwave Interface, Users can gain access via FIX API into their own front end trading system, or on numerous ISV's proprietary software including RTS and GL Trade.

Real-time application inside the browser

We believe anyone that trades on the Internet should be able to access one's service anytime, anywhere, and most importantly, quickly. However, the only universal medium, the web, is not yet adapted to broadcasting live streams of data. By building a real-time application inside the browser, using secure http communications, Baxter Financial Services Ltd is the only company to have solved the problem.

Design integrated within application in real-time

Another aspect of the constant evolution in financial markets is the ability for a service provider to communicate efficiently with its clients. Again we innovate by offering you the capability to upgrade your user interface interactively without any intervention and with minimal effort on your part.

3D gaming technology applied to online trading

Innovations in 3D technology in the past 5 years have been well overlooked in business applications. When data is represented in a real-world-like environment, navigation is more easily understood, and more data can be shown in the same screen space; in short the data is brought to life. The fun and attractiveness of these graphical representations appeals greatly to the younger generation, thus allowing you to capture and retain new markets.

Price Engine

The Price Engine system is a Real Time application, whose main objective is to provide a tool for market makers to transmit client specific, tradable prices to different destinations (i.e. clients, FX portals). The system may use Magnetic Rounding algorithms that can provide comparative advantages for market makers.

The system constitutes of four modules:

  • Extraction
  • Trackwheel
  • Tiering
  • Publishing

Extraction

The raw prices are grabbed from various sources. These sources include the standard data vendors (Reuters and Bridge) but the process can also interface with internal applications. The prices grabbed from the vendors are sorted and cleaned to ensure that they generate a valid mid price. A set of algorithms has been developed to allow for the generation of the clean price. All the parameters of the algorithm are configurable. Cross rates can be calculated to enrich the source for less traded currency pairs. Alert is generated in the event that no valid price is available.

Trackwheel

The core function of TrackWheel is to allow the dealer to monitor and manipulate clean prices before passing them to the clients. In normal operation, the TrackWheel will take the clean price and add the Market Maker's defined spread (and possible skew). The dealer can stop prices being broadcasted or control prices in manual mode.

  • Trackwheel Device: It is the hardware specially designed for the effective use of TrackWheel Interface. Three keys and a wheel is placed on the device allowing the dealer to change the spreads and mid-prices in a very efficient and fast way. When the market movements are not traceable any more, a panic button; helps to stop delivering prices.

  • Trackwheel Interface: This is the Graphical User Interface (GUI) component of TrackWheel, where the dealer can control two-way prices (bid/ask quotes) or stop prices being broadcasted.

    The Interface can be operated either in AutoPilot mode or in manual mode.

    In AutoPilot mode the dealer can define the spreads that are added/subscribed to/from the clean prices.

    In manual mode the dealer sets the mid-prices as well as the spreads.

    The "No Price" function allows the dealer to stop prices being broadcasted. When the incoming prices from different sources (i.e. Reuters, Bridge, etc.) are not consistent, the system will warn the dealer in two steps. There is a change of the background color and a warning sound at warning level 1. Prices are stopped being broadcasted at warning level 2. (Both levels can be set in the administration tool.)

    Any alerts generated by the system will be displayed to the dealer through the TrackWheel Interface. The GUI may manage 8 currency-pair at the same time, and each pair can have a maximum of 4 spread (the opportunity of 10 spreads will be introduced soon).

    The GUI can be manipulated with the keyboard, the mouse or the TrackWheel Device. Hot keys can be defined, and a pop-up menu will ease the usage of the mouse. "Panic Button" helps to stop prices being broadcasted. It can be initiated either from the pop-up menu, with hot-keys or by the TrackWheel Device, or by simply closing the Interface window.

  • Trackwheel Server: For each currency-pair a TrackWheel Server is set up, which handles the transmission and the authorization of Clients. Each currency-pair can be accessed and manipulated by only one Client at the same time for exclusivity reasons.

Tiering

The Tiering takes the core prices from the TrackWheel, and adds client specific tiers to these prices before sending them to the relevant broadcasting module. Clients and the corresponding tiers can be defined in the administration tool.

Publishing

The publishing module receives prices from the Tiering component and formats them in the correct mode for broadcast (XML, FxML etc.), and transmits the messages to the client. The Price Broadcasting system is developed in Java, uses SwiftMQ for communication, with JMS (Java Messaging System) protocol. It is compatible with most of the operating systems (such as Windows and Unix).

Download

IMPORTANT: Prior to downloading the Baxter FX platform, you will need to request a demo and obtain a User Id and Password from vCap FX. Please click here to complete the Demo Request Form to obtain a User ID and Password.

BAXTER FX Demo

Once you have obtained a User ID and Password from vCap FX, we will provide you with step-by-step instructions on how to download your Baxter-FX product.

Support

IMPORTANT Please DO NOT contact Platform Support for sales related information. For any account opening information please contact Sales.

vCap FX Support: + 1 512 828 6626
support@baxter-fx.com
support@vcap.com