R5FX’s Platform Goes Live in Latin America with Three New Currencies

R5FX, an emerging marketplace for local market foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (FX) trading, has gone live with Latin American (LATAM) trading on its platform, according to an R5FX statement.

R5FX is a London-based Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term start-up that is presently in beta testing – the group is slated to launch later this year. The group had been looking to enter into emerging market (EM) currency trading, having now engaged in the LATAM arena. R5FX has also been an advocate of a shift away from voice trading to a more transparent and efficient screen-based market as it gears up an expansion into EM.

In its inaugural offering, the live trading on R5FX will include the Brazilian Real (BRL), Chilean Peso (CLP), and Colombian Peso (COP). The move follows on the heels of R5FX’s launch of ‘LATAM in London’, which looks to bolster ties with Brazil and other EM venues in LATAM, whilst encouraging new opportunities in FinTech.

According to Jon Vollemaere, CEO of R5FX, in a recent statement on the LATAM launch, “Going live with R5FX LATAM in London is an important first step, as we build out our dedicated global emerging markets platform. By providing EMFX participants with increased transparency, centralized credit and a further offshore alternative, we are doing more than just offering the same old trading tools, we are helping our customers to build markets. Today this is in LATAM FX, which will become more widespread as we launch further currencies later this year.”

Last month, R5FX made headlines after undergoing a series of changes to its executive board, bringing in industry veterans (Lord) Howard Flight, Eng Huat Tan and Chung Min Pang.