Tradable, the award-winning open trading platform, has announced a partnership with leading US multinational financial services corporation Citi. tradable won the Most Innovative Financial Product at the Forex Magnates Summit 2012.
The agreement will allow brokers on the tradable platform to trade with Citi on the CitiFX TradeStream, focusing on liquidity and margin solutions.
Tradable, the world’s first open trading platform, allows traders to create a completely bespoke, online platform so they can work in a way that best suits them.
The Copenhagen-based firm introduced its integrated App Store concept where traders can download from an extensive catalogue of globally crowd-sourced apps developed by financially savvy third-party developers. Many apps have already been created for the platform and these include automated trading tools, algorithmic trading strategies, social trading apps, charting tools, and market news and data apps among others. Further app development is ongoing.
Jannick Malling, CEO and co-founder of tradable, said: “We are extremely pleased to work with Citi as a liquidity partner. It is paramount for tradable, our brokers and partners that we offer an open platform from a trading and liquidity perspective also.
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We believe that brokers should be able to trade with whichever liquidity provider they want. Citi has proven to be one of the most committed liquidity companies in the industry.”
CitiFX TradeStream helps small to mid-sized institutions improve their FOREX trading operations by providing a one-stop solution from Citi for counterparty relationships, as well as liquidity sourced from multiple contributors, and leading technology. The tradable partnership represents a new milestone for both Citi and its TradeStream offering.
Alex Knight, the Global Head of FX Margin Trading at Citi, commented on the new partnership: “Citi is excited to partner with tradable. We share tradable’s vision of an open platform that benefits the broker, the liquidity provider and the end-client. The industry is looking for something new, and we are happy to be one of the early adopters of a model that we think is going drive innovation and help to reshape the industry.”
“We believe CitiFX TradeStream with its ultra competitive aggregated liquidity available through a margin account directly with Citi, is the perfect fit for tradable and their broker partners.”
tradable, which recently won the award as the Most Innovative Financial Product at the ForexMagnates Summit last month in London, has already announced its BETA launch with six FSA regulated brokers in the UK and will announce additional global broker and liquidity partnerships in the coming months.