Our History
Our history began in 2004 with bond arbitrage — EU Bund/Bobl/Schatz vs US Treasuries. By 2006 we were running high-frequency bond arb, low-latency from the start. In 2009 we moved into FX ECNs, carrying that same execution-speed DNA into a new asset class.
Bond Arb
Began in bond arbitrage — early electronic trading in EU Bund/Bobl/Schatz vs US Treasuries.
HF Bond Arb
High-frequency latency arbitrage in bond markets, pushing the boundaries of execution speed.
FX ECN
Transitioned into FX arbitrage and ECN development — low-latency from day one, building on our HF bond arb heritage.
Low Latency Era
Among the first users of Spread Networks, colocation at Chicago CH1 / CME Aurora, and microwave links.
Global Stack
25+ years of machine-based algo trading. ECN technology still powering global prime brokers.
One of the first users of Spread Networks and colocation in Chicago CH1 / CME Aurora, and one of the first users of microwaves — our history is deeply integrated with low-latency architecture.
Our team has over 25 years of experience in machine-based algo trading, has built many ECNs predominantly in the FX world, and our sister company technology is still used to this day in many global prime brokers for credit gateways, market messaging normalisation, pricing aggregation / dissemination and low-latency execution.
We have a deep knowledge of the entire hardware / software stack and use the latest technology to power our global trading stack. We are market agnostic, but with our lean team we trade the majority of the global liquid markets both on cash and futures basis, both OTC and exchange-based.