Ultra-fast RFQ trading
Modular low-latency RFQ trading platform for
electronic fixed income markets
Algorithmica Qfix
Electronic trading has moved from the margins to the mainstream, rapidly becoming the new standard in fixed income markets. Algorithmica Qfix brings together advanced components for real-time pricing, smart routing, yield curve construction, risk assessment, and post-trade analytics. With seamless integration, high performance, and full transparency, Qfix empowers faster and smarter trading decisions from quote to execution.
An advanced modular RFQ Trading Platform
Algorithmica’s modular RFQ Trading Platform delivers high-performance tools for electronic fixed income markets, enabling seamless integration, ultra-low latency, and advanced analytics.
RFQ Gateway & Router
FIX 5.0/5.0 SP2 compliant, utilizing FPML 5.13 for full product definitions, tiered routing based on client segmentation, low-latency transport with a roadmap for FIXP binary encoding to achieve <100μs message round-trips and planned WebSocket delivery for lightweight frontend API integration.
Market Data & Yield Curve Engine
Real-time, multi-currency OIS/IRS/basis curve construction using robust methodologies (bootstrapping, monotone cubic spline interpolation) and fallback logic, flexible data streaming via REST, IQC, and an optional FIXP high-performance feed and support for all standard
industry conventions and multi-curve frameworks.
Asynchronous Risk Engine
Subscribes to trade messages (from Qfix) and curve updates via internal REST APIs and message queues, in-memory Directed Acyclic Graph (DAG) metrics, allowing for millisecond rescoring across VaR, ES, CVA through precomputed graphs, supports historical simulation, parametric VaR, custom stress scenarios, and counterparty exposure calculations, pre-trade risk limit checking and capital charge add-ons computed and asynchronous execution ensures no blocking of critical trader workflows.
Data Lake & Analytics Layer
Database agnostic storage architecture supporting any ODBC-compatible RDBMS, comprehensive post-trade analytics capabilities including P&L attribution, transaction Cost Analysis (TCA), margin impact modeling, and missed-opportunity analysis. data exposure via REST/GraphQL APIs for seamless integration with Jupyter notebooks, BI dashboards, and machine learning pipelines.
What makes Qfix unique
- In-Memory DAG Risk Engine
A pre-aggregated dependency graph enabling sub-millisecond risk updates.
- FPML 5.13 Compliance
Ensuring the richest product coverage aligned with the latest ISDA definitions.
- Database agnostic
Providing plug-and-play compatibility with diverse enterprise RDBMS systems.
- ML-Ready Platform
Designed with seamless data pipelines to support advanced quantitative research and machine learning initiatives.
Benefits of Qfix
Unlock greater efficiency and performance in electronic fixed income trading with Qfix.
Reduced Time-to-market
Modular microservices and open APIs will accelerate deployment and integration compared to monolithic alternatives.
Revenue uplift
Low-latency quoting and dynamic client-specific skews are projected to directly increase trading revenue.
Operational resilience
Asynchronous risk processing and robust failover mechanisms will minimise downtime, operational risk and lower support costs.
Cost-efficiency
The database agnostic ODBC layer and strategic use of open-source components will minimise licensing costs.
Future proofing
Advanced features such as WebSocket delivery, FIXP support, and ML-ready data pipelines will ensure long-term platform
viability with minimal refactoring.
