Project Rio: Fast-paced market monitoring

Technical white paper

Project Rio is a real-time market monitoring platform developed by the BIS Innovation Hub in collaboration with central banks to address the challenges of fast-paced electronic markets, particularly in foreign exchange (FX). It leverages modern, open-source technology to stream, process, and visualise high-frequency market data, delivering actionable insights on liquidity, trading activity, and risks with latency below two seconds. Its modular and scalable architecture separates data ingestion, processing, storage, and visualisation, enabling flexibility and adaptability to new markets and instruments. Designed with user feedback from central banks, Rio provides an intuitive dashboard that integrates seamlessly into workflows, bridging the gap between machine-speed markets and human decision-making.