KX provides a feature-rich suite of customizable FX trading, analytics, algorithmic and surveillance modules with built-in visualization tools, that can be deployed either as a unified solution or as modular components, to augment an existing eFX trading infrastructure.

• Functionality covers the full trading lifecycle from venue/LP integration, aggregation, book construction, core price creation, skew and mark-up, to distribution via Single/Multi Dealer Platforms (SDPs, MDPs) and APIs.
• Real-time streaming and historical data seamlessly normalized, captured and managed by kdb+, the world’s fastest time-series columnar database.
• An algorithmic strategy development environment enables users to customize pricing, hedging, alpha and order routing strategies, in real time.
• A full suite of real-time pre and post-trade analytics UI’s and reports enable users to have data-driven conversations with their LPs and clients.

KX Flow is a comprehensive exchange trading platform offering users the ability to create bespoke liquidity pools and distribute price information to clients and markets. It provides direct access to key liquidity sources including the world’s top market-making banks, non-banks and ECNs supporting both ESP and RFS pricing and execution for FX, NDFs, NDSs, metals and CFDs. KX Flow offers sophisticated liquidity management functionality, such as price spike filters and synthetic cross rate creation

As with all KX solutions, KX Flow is built on a modular platform that covers the complete trade lifecycle and provides buy-side and sell-side institutions with the tools to research, engineer, backtest and deploy a wide range of trading and risk management strategies. In addition to individual institutional trading solutions, it provides a complete FX Trading service with supporting analytics and risk management functionality.

KX Flow provides a HTML5 browser interface that can be white-labeled to match clients’ branding and distributed across mobile devices as well as desktops.

KX Algo is a modular system covering the complete trade life cycle, and is used by portfolio managers, trading desks and risk managers across the capital markets industry. Based on a proven, scalable Complex Event Processing (CEP) architecture, KX Algo provides a fully integrated highly performant flexible environment to research, engineer, test and deploy custom proprietary pricing, hedging and trading strategies while managing the associated risk in real-time. Strategies may be tested and refined using a built-in venue/LP simulator before being released to production.

Functionality includes auto-hedging of risk, based on position size, currency pair, time of day, etc., and enables users to configure routing rules to either warehouse positions – full or partial – and/or route them to preferred LPs/Venues, based on various parameters such as reject rate, response times or market impact.

KX FX Analytics enables customers to leverage the power of kdb+ to gain deep real-time insight into their FX business.

The solution captures all market, order and trade data from internal and external disparate sources, and 3rd party platforms. Typically capturing billions of records per day, FX Analytics provides actionable business intelligence, enabling you to optimize liquidity, order routing and execution, thereby increasing volume and profitability across your business.

The kdb+ database technology underlying KX FX Analytics is used to power data capture and analytics platforms for the world’s top banks, brokers, buy-sides, exchanges, MDP’s, ECN’s and regulators.

KX Surveillance solutions are designed in collaboration with market participants to give analysts and business users a comprehensive view of relevant market activity. In the FX market that includes considerations like

• Lack of a centralized marketplace
• 24 x 5.5 operation
• Inconsistent liquidity across currency pairs
• No centralized source of market data

The KX platform captures and analyses massive amounts of information at the most granular level, consolidating FX trading data across disparate, industry-wide platforms plus internalized data including trades, quotes, orders, and market data – all on a single platform. Delivered with a complete library of models, scenarios include collusion, benchmark manipulation, front running, excessive markup alerts and last look in alignment with the FX Global Code. New models can be added and easily incorporated into the comprehensive alert, workflow and case management infrastructure with full contextualized investigation tools.