EMM is XCDE’s newest market segment, representing a departure from the crumbling Market-Maker/Taker model. It is a fully OPEN MARKET that allows every User – Bank or non-Bank – to send Quotes and Orders (FIX message type ‘S’ and ‘D’) indifferently to provide or take Liquidity whenever the need arises. The result is a high performance matching cluster that maintains a welcoming environment for a wide range of FX market participant motivated by different interests. Simplifying user access, providing additional, useful functionality and increasing the trading efficiency.

QUOTE RULES
Precision Pricing  
Advertised in OrderBook  
Advertised in Market Data Feed  
Subject to minimum ticket size, defined by CP  
Subject to minimum size increment, defined by CP  
Single Quotes or Mass Quotes Available  
Single sided  
Two sided  
Pegged Quotes  
Match with other Quotes  
Match with Orders  
Price-Fee-Time Priority Matching  
Tradeable Model  
Indicative Model – “Last Look”  
Quote Credit for Top-Of-Book Quotes  
Kingston Communications
Precision Pricing  
Appear in OrderBook  
Appear in Market Data Feed  
Marketplace defined minimum size  
Order types available:    
Limit  
Stop  
IOC  
OCO  
if done  
Pegged orders  
Match with Quotes  
Match with other Orders  
Classic Price Time Priority Matching  
Tradeable Model  
Indicative Model