FXall Launches Routing of Algorithmic and Limit Orders

FXall 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 Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term providers and our buy-side clients to support their comprehensive requirements for Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term. 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."