Ekaterina Nutriakova
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Is there any alternative to PrimeXM XCore? One that would satisfy the needs of a broker or liquidity provider like this well-known order management tool does? The answer is yes. In this post we will provide an overview of a liquidity aggregation solution that we have developed here at Takeprofit.
XCore allows forex market participants to manage their risks, regulate flow and control exposure in real-time, as well as report real-time and post trade to brokers, regulators and back-offices. XCore has a wide liquidity network of 250+ partners that allows it to provide an efficient and cost-effective exchange of liquidity and the support of multi-asset classes within the network.
Takeprofit Liquidity Hub is a similar order management and liquidity aggregation solution. It functions the same way and provides most of the features that XCore offers to the same audiences. It has a smaller liquidity network, which is represented by 50+ liquidity providers and wholesale brokers. Despite this fact, Takeprofit Hub offers some aggregation and tech support opportunities that XCore does not have.
Let’s have a closer look at the two solutions and compare their features.
Takeprofit Liquidity Hub — the Alternative to PrimeXM XCore
| Features | Takeprofit Hub | XCore |
|---|---|---|
| Aggregation | ||
| Simple (best bid/best ask) aggregation | ✔ | ✔ |
| Advanced (volume based) aggregation | ✔ | ✔ |
| Different markups per Maker or Taker | ✔ | ✔ |
| Minimum and/or maximum spread settings | ✔ | ✔ |
| Percentage-based markup | ✔ | ✘ |
| Multiple price channels | ✔ | ✔ |
| Possibility of creating multiple symbols per one Maker symbol | ✔ | ✔ |
| Automatic switching between LPs if the main LP’s quote feed has stopped | ✔ | ✔ |
| Risk-management | ||
| Routing trades between A/B book by percentage | ✔ | ✔ |
| Routing trades between A/B book by volume | ✔ | ✔ |
| Net open position limits for Makers or Takers | ✘ | ✔ |
| Market-like delay | ✔ | ✔ |
| Optional extra slippage | ✔ | ✘ |
| Liquidity boost for volumes on book levels | ✘ | ✔ |
| Margin trading | ||
| Margin accounts | ✔ | ✔ |
| Market Watch in margin account | ✔ | ✘in xCore trader |
| Give-ups or coverage account on an MT side | ✔ | ✔ |
| Symbols and securities | ||
| Multi-asset support | ✔ | ✔ |
| Synthetic symbols | ✔ | ✔ |
| Non-FIX protocol LPs | ✔ | ✘ |
| Price multipliers | ✔ | ✔ |
| Corporate actions (dividends, taxes) | ✔additional tool | ✔additional tool |
| Support, monitoring and reporting | ||
| 24/7 support emergency line | ✔ | ✘ |
| Web UI for hub configuration | ✔ | ✔ |
| Web Terminal UI for trading | ✘ | ✔xCore Trader |
| Reporting for regulators | ✘ | ✔through integration with regtech provider |
| Post-trade reporting | ✔ | ✔ |
| Rest API Support | ✘ | ✘RabbitMQ API |
| SQL database | ✔ | ✔ |
| Analytical dashboards | ✘ | ✘ |
| Quote alerts for each of the asset/symbol | ✘ | ✘ |
| Alerting and notifications for essential errors | ✔ | ✔ |
One More Outstanding Feature of Takeprofit Hub
Takeprofit Hub product team is open to any suggestions that would improve the solution. For example, Binance, Kraken and Alpaca connections were added upon our clients’ requests. We are flexible in discussing and adding features that are helpful for the hub users.
Conclusion
Takeprofit Hub is an alternative to PrimeXM XCore that offers similar functionality with fewer features.
You can sign up for a 14-day free trial of Takeprofit Hub to check whether it satisfies your business needs. Our tech support specialists will install the solution within three days after you provide all the required information. Or you can install the product yourself according to the manual we provide.
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