PrimeXM updates XCore with MT4 synchronization
Forex technology and MT4/MT5 integration specialist PrimeXM has announced the release of two more new features in the recent XCore version update. Both functionalities are related to risk management of clients’ trading exposures and order execution.
XCore is PrimeXM’s order management, risk and reporting solution for Forex brokers.
1) Automatic synchronization between XCore Margin accounts and MT4 Coverage Accounts
PrimeXM said that many of its clients are servicing their B2B and professional clients utilizing out-of-the-box and free of charge MT4 and MT5 Coverage Accounts connected to XCore. This functionality is instrumental for many Brokers to boost their B2B & FIX API trading offering and attract Professional and API-trading driven Clients. Even though it takes milliseconds to reflect all trades back to the MT4/MT5 Coverage accounts, the Risk is managed post-trade. In order to mitigate the post-trade risk, brokers can use XCore Margin accounts (free of charge) to perform ultra-low latency pre-trade credit checks before executing on the liquidity aggregated via XCore.
The company said it has now developed an automatic synchronization tool for MT4 Coverage accounts reflecting available equity back in XCore margin accounts. Brokers can manage their B2B & FIX API business seamlessly without the need to manually reflect discrepancies caused by monetary transactions performed on the MT4 Coverage account such as deposits or withdrawals, swaps charges, commissions.
Pre-Trade Risk, Operations Risk and often manual work required are mitigated in one Go. Available equity for trading from MT4 Coverage accounts can be in constant sync with XCore margin accounts.
2) Layered Markups on XCore
The new Layered Markups functionality is only one of the many features of a Liquidity Profile on XCore that provides flexibility to Brokers to define multiple layers (bands) per instrument and configure different mark-ups on each level on top of a single aggregated liquidity book.
This new functionality can provide Brokers with additional Risk controls in the price formation and execution when processing smaller and larger orders sizes for their clients.
The layered markup can be configured through Connector Account Setting and Liquidity Profile Setting components on the existing XCore portal.