FIX (Financial Information Exchange) API (application programming interface) is an electronic communications protocol for financial information exchange. In our case, we use it to allow communication between a client, trader, investment fund, or broker and a liquidity provider. FIX API is a universal standard. It’s used by numerous banks, prime brokers, and hedge funds.
MEX Exchange recognise that the traditional Prime Broker model is effective but creating the perfect feed takes time and volume. FIX is the leading protocol for fast messaging, direct connectivity and trading in the financial markets. The MEX FIX API Service is a turnkey solution for institutional and high volume clients looking for direct access to market leading liquidity at affordable prices and without relying on external applications/front ends.
FIX API clients leverage off MEX Exchange existing liquidity and technology relationships to see one counterparty, one price and one competitive, volume based fee.
Why use FIX API
- High-speed connectivity and ultra-low latency execution
- Direct access to deep liquidity pools and competitive pricing
- Trade currency pairs, energies, metals, soft commodities, indices and bonds
- Can be integrated with MT4
Advantages of FIX API
The main advantage of the FIX API is how light and fast it is. At its very core, it was designed to transfer huge amounts of information at high frequency.
Moreover, it benefits from being specifically built for the financial industry. This means that it is built on foundations that all financial traders will be familiar with.
Since the FIX API is designed to work anonymously, traders who use a proprietary system can make full use of it without any risks that their strategy might become public. So your automated system will remain anonymous.
Finally, it is industry-unified, which means setting up a connection is fast and easy. The FIX API will be ready to use for traders in no time.
Main Benefits of FIX API
- Faster overall execution speed.
- Ability to design a personalized interface.
- Ability to use your own software, customized to the trader’s needs.
- Opportunity to use various order types such as market or limit.
Liquidity for Clients
MEX Exchange aggregates prices from over 50 different banks and dark pool liquidity sources meaning you will always get the best possible price available in the market. Our order book is one of the deepest of all FX brokers globally; this combined with market leading spreads results in better execution quality.
Through our institutional banking relationships we have been able to achieve an average EURUSD spread of 0.1 pips, the lowest spread for this pair globally.
Liquidity for Brokers
MEX Exchange can provide liquidity to brokers using the same FIX API. Also, brokers using the MT4 Platform can access MEX Exchange liquidity using the oneZero Bridge as a turnkey solution. Hosted MetaTrader 4 server and white labelling is also available.
Why use FIX API
FIX API connection offers real-time rate feed and provides client with complete control over receiving and sending data without the use of an intermediary application or software. Clients can submit orders, modify/cancel/set orders and receive notification of trading activities. In general, anything that the intermediary application/software provides, FIX API will offer the same functionality
Reasons for using FIX API
- Limitations of intermediary application
- Lower latency
- Improved fill rates
- Larger range of order types
- Customisations to suit the traders need
- Anonymity of client’s automated systems
- For experienced programmers
oneZero Financial FIX API Solutions
The oneZero FIX API is a tried and test solution and the best fit for any trader looking for the lowest latency between their order, the FIX engine and MEX Exchange liquidity. This setup is collocated within the New York Equinix NY4 data centre along with MEX Exchange existing trading infrastructure.
As MEX Exchange currently pushes over 500,000 tickets per day through the oneZero FIX engine, we can personally attest to its performance and stability during all market conditions.
Trading Conditions & Costs Associated
- Monthly Fees
- Commission starts from $20 per million
- USD 100 million trading volume
- Minimum account balance 50K USD*
- Conformance testing is required prior to going live.
*Subject to change after conformance testing