Technology
EMM is XCDE’s newest market segment, representing a departure from the crumbling Market-Maker/Taker model. It is a fully OPEN MARKET that allows every User – Bank or non-Bank – to send Quotes and Orders (FIX message type ‘S’ and ‘D’) indifferently to provide or take Liquidity whenever the need arises. The result is a high performance matching cluster that maintains a welcoming environment for a wide range of FX market participant motivated by different interests. Simplifying user access, providing additional, useful functionality and increasing the trading efficiency.
| QUOTE RULES | ||
|---|---|---|
| Precision Pricing | ||
| Advertised in OrderBook | ||
| Advertised in Market Data Feed | ||
| Subject to minimum ticket size, defined by CP | ||
| Subject to minimum size increment, defined by CP | ||
| Single Quotes or Mass Quotes Available | ||
| Single sided | ||
| Two sided | ||
| Pegged Quotes | ||
| Match with other Quotes | ||
| Match with Orders | ||
| Price-Fee-Time Priority Matching | ||
| Tradeable Model | ||
| Indicative Model – “Last Look” | ||
| Quote Credit for Top-Of-Book Quotes | ||