Guides
Educational deep-dives into institutional FX infrastructure, execution models, and market structure.
What Is an ECN in Forex?
How Electronic Communication Networks route institutional FX orders and why they matter for price discovery.
Read guideParticipantsFX Prime Brokerage Explained
How prime brokers provide credit intermediation, enabling hedge funds to trade across multiple venues under a single credit umbrella.
Read guidePost-TradeHow FX Settlement Works
CLS, payment-versus-payment, and the post-trade infrastructure that settles trillions in FX transactions daily.
Read guideExecutionLiquidity Aggregation in FX
How aggregators and smart order routers combine liquidity from multiple sources to deliver best execution.
Read guideTechnologyFIX Protocol in FX Trading
The messaging standard that connects institutional FX participants and enables electronic trading.
Read guideExecutionNo Dealing Desk (NDD) Connectivity
Understanding NDD execution models and how brokers route orders directly to liquidity providers.
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