FXall Launches Routing of Algorithmic and Limit Orders
(Thomson Reuters ONE) -
Delivering Multiple Trading Strategies To Clients In One Platform
21 June, 2012 - FX Alliance Inc. ("FXall") (NYSE:FX), the leading independent
global provider of electronic foreign exchange trading solutions, announced
today that it went live this week with the ability for clients to utilize bank
algorithms and send resting order requests to selected banks for them to manage.
Clients can now access an even wider variety of execution methods, including
leading bank algorithmic order types through a single FXall Trading interface
and comprehensive workflow solutions.
Live client trading in FXall's Production environment began yesterday as part of
FXall's roll-out of the new trading program. Currently available provider banks
include Credit Suisse, Deutsche Bank, Goldman Sachs and J.P. Morgan. Citi and
Morgan Stanley are also currently testing and full trading capabilities will be
available for all FXall clients in the third quarter. FXall will support trading
of proprietary products for all its provider banks.
Phil Weisberg, CEO at FXall commented, "We are pleased to deliver even more
tools for our clients to take advantage of as part of their complete trading and
workflow processes. We have partnered with leading liquidity providers and our
buy-side clients to support their comprehensive requirements for risk
management. We are increasingly seeing more of our clients willing to take
advantage of multiple execution methods and manage their FX risk more actively,
so we want to offer them the flexibility to choose exactly what approach will
work for specific market conditions."
Currently FXall's efficient workflow process effectively handles orders that
need to be filled when staff may not be in the office, such as Limit, Stop Limit
or Benchmarks, for clients with all the advantages of FXall's complete workflow
capabilities. Algorithmic orders enable clients to execute bank-developed
trading strategies to help manage risk effectively, without the need for
additional resources.
"In response to client demand, it was a natural fit for us to make our Advanced
Execution Services (AES) algorithms available through FXall" said Robert Maher,
Global Head of eFX Sales from Credit Suisse. "We're very excited to be able to
provide the full functionality of our trading algorithms integrated into their
existing workflow."
"Deutsche Bank recognises that our clients have varying executions styles and
require a range of execution products including voice, streaming execution and
algorithms. Distributing our algorithms through FXall is an excellent channel
for us to provide additional functionality to clients," said Cameron Mouat, head
of algorithmic execution for foreign exchange and listed derivatives at Deutsche
Bank.
Eddie Wen, Global Head of FX Ecommerce, of J.P. Morgan noted "Our AlgoX
liquidity pool and suite of algorithmic orders can now be accessed via FXall.
This means that J.P. Morgan's clients can utilize the most advanced execution
tools in the market, integrated with clients' normal operational workflow."
About FXall
FXall is the leading independent global provider of electronic foreign exchange
trading solutions, with over 1,000 institutional clients worldwide. FXall's
offices in New York, Boston, Washington, London, Zurich, Hong Kong, Tokyo,
Singapore, Sydney and Mumbai serve the needs of active traders, asset managers,
corporate treasurers, banks, broker-dealers and prime brokers.
For more information on FXall, visit www.fxall.com
For further information, please contact:
Dafina Grapci-Penney
Telephone: +44 20 7324 5484
Mobile: + 44 752 533 5733
Email: dafina.grapci-penney(at)greentarget.co.uk
Resting and Algorithmic Orders Product Sheet:
http://hugin.info/150837/R/1621314/518103.pdf
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: FX Alliance, Inc via Thomson Reuters ONE
[HUG#1621314]
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Datum: 21.06.2012 - 12:03 Uhr
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