5 Reasons FX ralph lauren UK Liquidity Aggregation Is So Challenging From the surface, aggregating liquidity for fx trading looks fairly straightforward.Most venues support fix, and trading protocols for spot fx are not particularly complicated.But look under the surface, and things get more complicated.Here are some of the issues:The fx market is extremely fragmented.There are two primary markets, dozens of ecns and multi dealer platforms, and 10 15 critical single bank platforms.Aggregating liquidity from all these sources can be quite daunting.This year alone, more than 10 new fx trading venues were launched.Some send continuous price streams, some use an rfq model(Request for quote)And some send banded feeds.In most cases, quotes include three pricing tiers.When you send an order, it must indicate the specific price it's targeting.Time to live settings vary by venue, and if the quote is expired by the time ... Read more »