Patsystems moves into forex trading
UK-based trading technology vendor Patsystems will expand into foreign exchange trading through a deal reached with IFX Markets. The British companies will develop an interface that will allow traders on Patsystems’ trading platform to connect directly with a matching engine provided by IFX.
The IFX interface should be available to existing Patsystems customers by early 2004. Clients will have to register with Patsystems for a so-called ‘exchange-specific adaptor’, but Moses declined to comment on the cost of this.
Charles Romilly, a director at IFX Markets, said: "By joining forces we can play on each other’s strengths and offer a far more powerful service." IFX handles spot forex and currency futures transactions.
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