Xoriant Foreign Exchange

Increasing globalization has led to a massive increase in the number of foreign exchange transactions in recent decades. The global foreign exchange market is by far the largest financial market, with average daily volumes in the trillions of dollars. The foreign exchange market (forex, FX, or currency market) is a global decentralized market for the trading of currencies. The main participants in this market are the larger international banks. The foreign exchange market works through financial institutions, and it operates on several levels.

Foreign exchange systems - user facing systems, clearing/processing platforms as well as compliance oriented systems - have experienced a vast variety of changes over the years and new communications technology has made the efficiency and speed of foreign exchange systems accessible to exploding user base.

Xoriant has worked with leading FX divisions at banks and FX trading houses in helping them provision some key technology platforms for their Forex business:

  • Integrating their existing trading platform, clearing houses, and liquidity partner technologies so that the business users can seamlessly access information instantaneously

  • Providing the right dashboards to improve visibility into risk exposure and liquidity requirements, and market trade values

  • Reconciling back-office accounting at the end of the day to account for global offices trade volumes

  • Helping develop solutions that provide pricing and aggregation of FX spot prices, non-deliverable forwards (NDFs), forwards and outrights with algorithmic execution services giving institutional traders maximum liquidity and best execution

Xoriant has also worked with a leading FX clearing institution in their IT and business operations divisions to achieve:

  • Increase in their processing throughput by modernizing their middleware platform

  • Expansion of their processing capability by incorporating more messaging formats in their processing engine

  • Higher flexibility and functionality by rewriting a processing module in state-of-the-art development paradigm