FXCubic's ​Wassim Talks About White Label Business and RXI

Several months ago, FXCubic accepted Fazzaco's interview to talk about how the company evolved to adapt to the new landscape​. Now FXCubic is attending iFX EXPO. Taking this opporunity, we invited Wassim again to continue our topic.

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Fazzaco: Last time, you said "the biggest challenge is not being able to physically meet our partners and customers and not being able to attend trade shows in order to meet potential clients and promote our solution." Now you got the chance in iFX EXPO. What news will you have in the expo?

​Wassim: To say I'm excited about the fact I get to see in the flesh, our clients, partners and potential new FXCubic family members (prospects) is a massive understatement. Apart from it feeling like we are finally getting back to some kind of normality, I cannot wait to spread the good word about our latest ground-breaking product that we have been tirelessly developing and testing for the last 2 years.

We chose this IFX Expo event to launch this truly revolutionary product. We call it, RXI and it is a standalone next gen risk management tool, that allows brokers to gain a global view of their entire trading operation in one central intuitive interface. It reads data from all trading platforms a broker uses and gives them real-time insights across many key risk parameters and metrics in real-time, allowing risk managers and dealers to take timely actions to reduce risk, maximise efficiency and improve risk adjusted returns, as a whole. We strongly believe RXI will reshape the way dealing desks operate. We have tested this with some of our key clients and the feedback has been extremely encouraging. Now we look forward to sharing it with the wider brokerage community throughout the world. Stay tuned!

Fazzaco: Why did you choose to attend the event and what are you hoping to take away from the experience?

Wassim: IFX events are clearly the stand out expos in the industry, with the most attendees and coverage in general, so it was an easy decision, to not only be a part of it, but to also have the FXCubic name feature prominently as a sponsor. We are always looking to strengthen our name and brand in any way we can on our journey to becoming the most powerful technology provider to the industry.

Our main objectives are to meet new prospects, proudly promote our solution, officially launch our state-of-the-art Risk Intelligence System and also catch up in person with our many existing clients and partners that are in attendance.

Fazzaco: You are one of the sponsors to iFX EXPO. What was the ROI of sponsoring this event?

Wassim: ROI with these kinds of events is very difficult to measure succinctly in all honesty. The fact is we have experienced a huge amount of growth and overall success over the last few years and it is important to keep up this momentum, by not only attending key industry events such as these, but also featuring prominently as a statement to our peers that we are a serious player and we are stronger than ever! Ultimately, with the right team attending and the best of breed solutions to offer in terms of technology, innovation and support, such as we have at FXCubic, we have no doubt the return will exceed the investment.

Fazzaco: Recent days has witnessed sharp rise and fall of cryptocurrency prices. Will this affect liquidity connectivity? What’s your point of view on cryptocurrency and its liquidity?

Wassim: Clearly, the trend and demand for having high quality liquidity providers in Crypto is higher than ever and we are seeing more and more LPs fine tuning this type of liquidity and even some new players that are looking to enter the market with more specialised offering on the Crypto side. Demand also for us to connect to more and more exchanges from our clients is apparent, such as the recent integration we did with Binance. From a technology stand-point whether clients wish to connect directly to individual desired liquidity sources and create their own mix of liquidity, or, if they choose to connect to established key LPs that are already doing this, it is possible within FXCubic’s advanced liquidity engine and aggregator. Therefore, we are able to accommodate to a high level, whichever way our clients want to do things.

Fazzaco: As you mentioned last time, the multi-asset offering is becoming more and more popular. What are the differences in providing crypto and forex liquidity?

Wassim: The main two differences we see as a technology company are; first, the type of integration.

For FX liquidity most of the feeds for trading and execution come as a FIX API while for the integration to Crypto exchanges the protocols used for the integration differs (mainly Web Socket API).

The second big difference is on the trading volumes; in fact, the trading volumes in Crypto are much smaller than for FX (even though the demand is significant) and this is mainly due to the extreme volatility, for that reason leverage that is offered is a lot lower than for FX.

Fazzaco: Privacy guarantee is one of the highlights for your products. Could you please describe more about that? How do you see the situation when a broker wants to change its white label partner? How can brokers make sure of their data security?

Wassim: We have many advantages in the FXCubic solution, but the fact that the system is freely hosted by the client themselves and works as a totally independent system, is definitely an important factor for many customers of ours. It gives huge piece of mind as they know their data is not only secured but also any information surrounding their performance metrics etc cannot be leaked or shared with any 3rd party.

In my opinion, this is a huge benefit, especially to the larger players in the market. The privacy and full control of the broker's data is essential for the success of their operation.