FX Dealing Accelerator

The FX Dealing Accelerator offers the ability to create an FX trading/pricing application that is both flexible and fast to deploy.  The FX Accelerator provides a framework that connects to Liquidity Providers and manages the lifecycle of the connection freeing the developer to concentrate on adding business specific logic and rules that add value to their organization.

Compatible Products

TIBCO® Live Datamart TIBCO StreamBase®

Provider

TIBCO Software

Supported Versions

Software Version
TIBCO StreamBase 7.6.x

License

TIBCO Component Exchange License

Overview

The FX Dealing Accelerator (FXDA) provides FX Venue connectivity, Market Data and Execution venue handlers, customised spread calculations/distribution and execution modules, simulation, algorithmic trading execution and live monitoring, in one continuous loop. The FXDA provides a template for FX system implementation that reduces time to market from months or years to weeks while enabling the customer to express their unique IP and or business model.

Support Details

The DevZone Forums are a traditional threaded discussion service subscribed to by Accelerator Developers, Practitioners, and Customers with a shared interest in the TIBCO Event Processing and Streaming Analytics platforms.  Accelerators are provided as fast start templates and design pattern examples and are supported as delivered.  For all questions concerning Accelerator use and implementation, please open a new discussion in the DevZone forum here: http://devzone.tibco.com/forums/forums/list.page

License Details

Release(s)

Release v1

Published: April 2016

Full documentation set including Quick Start Guide, Functional Specification, and Interface Specification are available by downloading the full Accelerator distribution package.

Review (1)
5
Mark Palmer 5:10am 06/03/2016

The FX Dealing Accelerator was the first Accelerator we built when we were private as StreamBase, before we were acquired by TIBCO. I'm proud to say that after 2 failed attempts, we wound up with an Accelerator package that runs some of the world's largest FX trading systems in the world, and has truly helped accelerate development efforts at a number of firms. In a recent proof of concept, the customer built a system in a week that ordinarily would have taken several months or more by using the fast-start foundation of the Accelerator code. In the past year we've updated "FXDA," as we call it, with a new fast-start LiveView UI, and improvements based on more and more customers using it. The FXDA is the "founding father" of StreamBase-based Accelerators. 

FX Dealing Accelerator

Overview

The FX Dealing Accelerator (FXDA), a reusable set of software components that provide TIBCO Foreign Exchange (FX) customers a “fast start” to deploying FX Market Data/Dealing solutions based on the TIBCO Fast Data platform. The FXDA is available to TIBCO customers in open source format, available for customization and rapid deployment of highly customizable FX pricing/trading platforms.

The FXDA provides FX Venue connectivity, Market Data and Execution venue handlers, customized spread calculations/distribution and execution modules, simulation, trading execution and live monitoring, in one continuous loop. The FXDA provides a template for FX system implementation that reduces time to market from months or years to weeks.

In addition to the introductory video above, a longer, more detailed 12 minute video which describes the FX Dealing Accelerator in more depth and gives a quick demo is available here.

Business Scenario

The Foreign Exchange (FX) business is the exchange of one currency for another. Currencies are traded over the counter (OTC) at an agreed exchange rate. Unlike the stock market, there are no centralized venues/exchanges. Parties agree on a rate and trade directly. The market operates 24/5, that is from 0100 GMT on Monday (Hong Kong) to 2300 GMT on Friday (Chicago). The market operates a combination of machine and human (voice) trading. The approximate daily turnover in FX trading is $5 trillion, far higher than in Equity (stock) markets.

 

Benefits and Business Value

The TIBCO FX Dealing Accelerator offers the ability to create an FX trading/pricing application that is both flexible and fast to deploy. An FX platform will typically source prices from a number on venues, or Liquidity Providers (LP). These providers will typically have a FIX API or a proprietary API. For the most part a FIX API is now becoming standard. The TIBCO FX Accelerator provides a framework that connects to LPs and manages the lifecycle of the connection. The burden of maintaining the connection for both Market Data prices and Execution handling is removed. The developer is free to concentrate on adding business specific logic and rules that add value to their organisation.

 

Functional Objectives

The TIBCO FX Dealing Accelerator and Demo as described, provide an FX Dealing (Pricing and Execution) application. The Stages in this application are out lined in the figure below:

In Summary the processing steps are:

  • Ingest Market Data from Liquidity Providers (LPs) via the Trading Components Framework
  • Produced an aggregated view of these prices
  • Create an average calculation of these prices (in our case VWAP volume weighted average price)
  • Apply custom spreads, as loaded in the reference data section (more later)
  • Publish these rates to interested subscribers via TIBCO Live Datamart.

 

Technical Scenario

The FX Dealing Accelerator (FXDA) provides FX Venue connectivity, Market Data and Execution venue handlers, customised spread calculations/distribution and execution modules, simulation, algorithmic trading execution and live monitoring, in one continuous loop. The FXDA provides a template for FX system implementation that reduces time to market from months or years to weeks while enabling the customer to express their unique IP and or business model.

The accelerator is written using TIBCO StreamBase, TIBCO Live Datamart, TIBCO StreamBase component exchange LV Angular Bridge and a customised JavaScript UI. The Trading components framework ships with StreamBase and provides the connectivity and venue handling, along with samples to the following FX venues: 360T, SuperSonic, Barclays BARX, CitiFX, Currenex, Deutsche Bank Autobahn FX, Digitec D3 Streaming Interface, EBS, Exegy Input, FXall, FXSpotStream, GAIN GTX, Goldman Sachs Electronic Trading FX, Hotspot FX Trading System, HSBC FIX, Integral FX Inside, KCG Hotspot FX, LavaFX, MarketFactory™, Morgan Stanley, Nomura FX, Saxo Bank, Thomson Reuters Enterprise, UBS,  Wall Street Systems.

The demo illustrates using the building blocks of StreamBase, StreamBase Trading Components Framework, Live Datamart and a sample JavaScript UI. The market data is provided by means of an in built simulator that provides prices based on current market exchange rates.

Live Datamart is used to capture the current state of market data and display information on an interactive, custom developed HTML5 application. This is all built on top of the LDM JS API, which is fully supported.

 

Components

The FX Dealing Accelerator is fully contained within TIBCO StreamBase Standard Edition 7.6.X

The StreamBase Trading Components Framework simplifies creating foreign exchange trading applications by providing a set of modules and schemas that include market data and execution handlers for more than a dozen FX venues. The framework's packaged modules, parameterized properties, and consistent interfaces simplify many of the complexities normally associated with creating FX trading applications.

At the highest level, the Trading Components Framework packages its modules into two types of venue-specific handlers:

Market Data Handlers

Modules that access streaming market currency exchange data.

Execution Handlers

Modules that communicate trades with execution venues.

Supported Venues

A Trading Components venue is the source of a data feed. All supported venues are for FIX. Market Data handlers for the following venues are currently available in Trading Components. Nearly all venues also have execution handlers, as indicated in the second column.

Note

To connect to venues you must have purchased their associated premium adapters and in some cases downloaded them from tibco.com. Whether packaged with StreamBase software or separately, you are only entitled to use premium adapters that are listed in your contract. If the Separate column in the table contains Yes, the associated adapter comes as a separate download. For a complete list of standard and premium adapters and their usage restrictions, click here.

TABLE of Venues here

Venue

Execution

Streaming

RFQ Types

Folder name

Separate

Barclays BARX FIX

Yes

N/A

Spot, NDF

barclays-barx

No

Bloomberg Tradebook FIX

No

Spot

N/A

bbg-tradebook

Yes

CitiFX ESP

Yes

N/A

Spot, Forward, NDF

citifxesp

No

CitiFX Options

No

N/A

N/A

citifxoptions

No

Currenex Market Data

Yes

Spot, Forward

N/A

currenex

No

Deutsche Bank AutobahnFX Classic

Yes

Spot, Forward, Swap

N/A

db-classic-fix

No

Deutsche Bank AutobahnFX Rapid

Yes

Spot

N/A

db-rapid-fix

No

ICAP/EBS

Yes

Spot, NDF

N/A

ebs

No

FXSpotStream FIX

Yes

Spot, Forward

N/A

fxspotstream

No

GAIN GTX

Yes

Spot, Forward

N/A

gain-gtx

Yes

Goldman Sachs

Yes

Spot, Forward

Spot, Forward, NDF, Swap

gs

No

Morgan Stanley

Yes

N/A

Spot, Forward, NDF, Swap

ms

No

Nomura

Yes

Spot

Spot, Forward, Swap

nomura

No

Saxo Bank FIX

Yes

N/A

Spot

saxo

No

UBS Investment Bank

Yes

Spot, Forward, NDF

Spot, Forward, NDF, Swap

ubs

No

 

Additional Resources

The Readme for the FX Dealing Accelerator is here

The Fx Dealing Accelerator QuickStart Guide is attached

 

View the Wiki Page