StreamBase Systems and MarketFactory, a provider of algorithmic FX trading applications, have entered into partnership to help hedge funds, banks, and proprietary trading firms speed their ‘time to first trade’ in the spot foreign exchange market.

StreamBase said that MarketFactory’s ECN gateway software integration with its FX trading framework will be able to support the rapid development of program trading models and GUI front-ends, as well as e-commerce, pricing and risk management engines.

Richard Tibbetts, CTO of StreamBase, said: “Accurately interpreting market data from legacy exchanges is a major recurring issue for all firms seeking to trade the institutional FX market. MarketFactory’s advanced software connectivity provides FX microstructure expertise that would normally take years of trading for a firm to acquire.”

James Sinclair, CEO of MarketFactory, said: “We are impressed with the range of applications customers can build quickly using StreamBase’s Event Flow Language. Together with StreamBase, we are able to offer a complete low-latency FX trading platform that will get customers live and trading on over five FX order driven ECNs, in a matter of weeks.”

StreamBase Systems is a provider of Complex Event Processing (CEP) technology solutions.