Trading Models (XFX API & Talos)

XFX liquidity can be accessed through two supported trading models. Both models provide access to the same pricing, liquidity, trading hours, and minimums. The difference lies in how you integrate and operate day to day.

Option 1: Trade via XFX APIs

Customers can integrate directly with XFX's proprietary APIs to stream prices, request quotes, execute trades, and monitor transactions.

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When this is a good fit

• You want full programmatic control over pricing, execution, and reconciliation
• You are building custom trading or treasury workflows
• You plan to automate quoting, execution, and post-trade monitoring
• You prefer a direct integration without intermediary platforms

How it works

1. Authenticate directly with XFX
2. Stream prices or request RFQs via the XFX API
3. Execute quotes programmatically
4. Track transaction status and settlement via API endpoints

This documentation will guide you through authentication and setup, quote and transaction lifecycles, production readiness and monitoring, and end-to-end integration examples.

Option 2: Trade via Talos

Customers who are already onboarded with Talos can access XFX liquidity directly through the Talos platform.

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When this is a good fit

• You already trade through Talos and want to add XFX as a liquidity provider
• You prefer to manage execution and workflows inside an existing trading venue
• You want faster time-to-market without building a direct API integration

How it works

• You onboard with XFX
• XFX remains responsible for pricing, quoting, trade execution, and settlement
• Quotes are requested and executed via Talos, not directly through XFX APIs
• Day-to-day trading activity occurs within the Talos platform
• Operational workflows (e.g. RFQ submission and execution) follow Talos conventions
• You access the same pricing, liquidity, supported currency pairs, and trading hours
• You can access the XFX web platform for RFQ trading, transaction reporting, and managing trusted accounts and users

Choosing the Right Model

Next steps

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If you're unsure which model is right for your use case, reach out to [email protected] and we can help you decide.