FX Rates Alerting System

The currency trading division of a major international payments provider does regular, often quite large, FX trades throughout the day in order to facilitate foreign currency payments by their customers. As FX rates change, sometimes quite substantially, on an intraday basis, it is essential that the trades are done at the most favourable time in order to minimise costs.

To help them with this, they brought in Sinara’s market data expertise to implement a realtime alerting service that would signal their internal trading application the best time to do an FX trade. For example, they might wish to make a trade when the rate of a currency pair, e.g. GBPUSD, falls below a certain threshold.

To build the solution, Sinara used its existing, proven components from the Sinara Market Data Platform. The Feed Handler connects to a realtime FX market data feed and subscribes to the required currency pairs based on configuration set up by the client’s trading team. This data is then passed to the Sinara Alerts Engine, which checks the incoming rates against the specified alerts thresholds set up by the traders. If a particular threshold is breached, an alert notification is immediately sent to the connected customer trading application.

As the client already used Oracle databases throughout their infrastructure, Sinara produced an Oracle version of its SMDP database and software interface as part of this project. Java was also the client’s programming language of choice for most of their internal applications. To help their developers integrate the trading application with the Alerts Engine, Sinara supplied them with a Java version of our Market Data Platform API.

Sinara work with the client on an ongoing basis, helping the internal IT team with any support issues and proactively ensuring the system is kept up-to-date with respect to data feed changes.

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