Global FX technologies provider Tradency Inc., has announced a new joint solutions initiative with Simplex Inc., melding Tradency’s ‘Mirror Trader’ and Simplex’s comprehensive FX trading platform for leading brokers and financial institutions in Japan and abroad, according to a Tradency company statement.
Mirror Trader Technology Already an FX Fixture
Tradency is best known throughout the FX industry for being a leading provider of unique social trading technology, namely its Mirror Trader solution. The technology enables FX traders to select a trading strategy and automatically “mirror” their executed trades to more experienced traders. The company also made recent waves in Japan by becoming the first copy trading platform provider to be regulated by the Japanese Financial Services Agency (JFSA).
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According to Lior Nabat, Tradency CEO, in a statement on the cooperation, “Our cooperation provides the Japanese brokers with the high-end level of support and service they are accustomed to from topnotch providers such as Simplex. We take great pride in their decision to cooperate with us. It proves once again, as we have seen during the last year that leading technology providers are integrating with Mirror Trader as their system trading solution of choice.”
Joint Solution Looks to Build off Simplex’s Extensive Market Exposure
Conversely, the cooperation also integrates Simplex’s unique algorithmic FX trading platform – in Japan itself, no less than 30% of FX transitions rely on the solution, underscoring its importance and exposure into the Japanese FX market. The intricate process is eventually culminated in the amalgamation of two industry stalwarts providing users and brokers with a truly potent FX solution.
“We expect that Mirror Trader will serve as a gateway to expand Simplex’s Japanese standard business offering to worldwide brokers. We aim to build a non-exclusive partnership with global companies that focuse on product development and advanced services to financial institutions,” added Hideki Kaneko, Simplex CEO, in an adjoining statement.