Currensee which until now was a hub for retail forex traders looking to follow credible traders has now expanded into the institutional forex market. The move makes sense for Currensee for two reasons: first is that it still has not gained much traction in the retail forex market, the other is that Currensee has institutional investors which were probably instrumental in making this deal with HedgeCo happening. Institutional volumes are typically much higher than the retail ones and hence may be much more profitable for Currensee.
BOSTON – Nov. 17, 2011 – Currensee (www.currensee.com), the leader in bringing the world currency markets to investors and financial institutions across the globe, today launched the availability of its Trade Leaders™ Investment Program for institutional clients and their investors. The company also announced that HedgeCo Securities LLC, a subsidiary of HedgeCo Networks, the extensive network of hedge funds and accredited investors, will be introducing the Currensee Trade Leaders Investment Program to its growing network of institutional investors. For financial institutions seeking to expand portfolio offerings, the Trade Leaders Investment Program provides a turnkey foreign exchange (Forex) investment service. The new service enables hedge funds, money managers, family offices and other asset gatherers to tap into the $4 trillion daily Forex market by leveraging the elite Currensee network of Trade Leaders.
Financial institutions also have the benefit of managing risk on each client portfolio by using the new Currensee Risk Management Control Center™, which provides professional-level tools to help manage risk and exposure. Using the Risk Management Control Center, money managers can specify maximum drawdown and set leverage requirements for each Trade Leader, providing an effective way to protect their clients’ investments while maximizing allocated capital.
“The volatility of the stock market is creating new opportunities for managers to look outside of equities and fixed income for an uncorrelated asset class that provides the ability to diversify,” said Evan Rapoport, CEO of HedgeCo Securities. “We’re excited to work with Currensee and the quality of its Currensee Trade Leaders network, the transparency of the program and its state-of-the-art risk management tools that make the program a viable investment service to offer our network.”
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Through the program, accredited investors in the extensive HedgeCo Securities network that are introduced to Currensee will have transparent, online access to the Currensee Trade Leaders network, an elite group of Forex traders recruited by Currensee through a rigorous due-diligence process. Via the Trade Leaders program, institutional money managers have direct access and control of asset allocation. They can easily create diversified Forex portfolios by selecting individual Trade Leaders based on track record, trading strategy and risk management practices. Once the manager creates a portfolio and allocates funds to Trade Leaders, the Currensee trade replication technology enables an investor in New York to receive the same trades as a Trade Leader in China, resulting in unprecedented diversification and asset allocation.
“HedgeCo’s decision to introduce its impressive qualified network to Currensee will give institutional investors the ability to invest in the foreign exchange market through the Currensee Trade Leaders. It reflects the growing appeal of the world currency markets as a viable alternative asset class and the unique ability of our investment offering to provide financial institutions with access to this market,” said Currensee CEO Dave Lemont. “The track record of the Currensee Trade Leaders is second to none, with cumulative performance results regularly outperforming the stock market, gold and other asset classes and risk management practices and controls provides an innovative balance of returns and risk control.”
For more information about the Currensee Trade Leaders investment service for institutions, please visit www.currensee.com/biz.
Currensee is the leader in bringing the world currency markets to investors and financial institutions around the world as a viable alternative asset class. The Currensee Trade Leaders™ Investment Program delivers the uncorrelated performance of Currensee Trade Leaders, an elite network of emerging foreign exchange managers recruited by Currensee through a rigorous due diligence process. By leveraging the Currensee advanced trade replication technology, an investor in New York automatically receives the trades of a Trade Leader based in China, resulting in a diversified portfolio of managers. As compared to other investment programs, Currensee provides unprecedented transparency and control of asset allocation and risk management, all delivered via a unique online experience that fundamentally changes the world of investing. Currensee is funded by North Bridge Venture Partners, Egan-Managed Capital and Vernon & Park Capital. Currensee is registered with the Commodity Futures Trading Commission (CFTC) as an Introducing Broker (IB) and is a member of the National Futures Association (NFA) member number 0403251. Currensee is also authorized by the Financial Services Authority (FSA), firm reference number 518648, and registered in England and Wales, companies’ house number 07025997. For more information, visit Currensee at www.currensee.com.