Caplin Launches App to Enable Trading FX Spot, Forwards and Swaps on Mobile

The technology powering Citigroup’s Velocity iPad and Velocity iPhone apps, is now available to the market. Caplin FX Mobile enables

caplin-logoThe e-distribution specialist and single-dealer platform technology provider, Caplin Systems, announced today that it is launching Caplin FX Mobile. Built in HTML, the new app enables a bank’s clients to monitor and manage FX orders via their smartphones and tablets. Already licensed by a major Asian bank, the new product is already being tested by a number of financial institutions around the world, according to the developer.

Caplin markets the app by promising banks they can build the single-dealer platform (SDP) they want, but without the high initial set-up costs, lengthy marketing times and the risk of testing a new technology. Caplin FX Mobile also offers round the clock monitoring and systems management with a service delivery that reduces dependency on internal IT resources. The app is said to seamlessly integrate with Caplin Direct, the firm’s hosted and managed SDP service announced in December of last year, which delivers an operational single-dealer platform as a service. Once connected to a trading system, Caplin Direct provides an out of the box, FX SDP with advanced capabilities and workflows, according to the firm. This can be styled and branded to match a bank’s corporate livery, and extended with custom features. With the addition of the new app, this functionality is now available on the mobile device of choice.

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Adam Hawley, Director of Managed Services, Caplin
Adam Hawley, Director of Managed Services, Caplin

“With Caplin FX Mobile you can view executed spot, forward and swap trades, and keep an eye on the FX market through custom watch lists and charts,” says Adam Hawley, Caplin’s Director of Managed Services. “We’ve seen a surge in demand for this functionality in all geographies, but in particular Asia and Latin America,” Hawley added.

According to Caplin, most banks already recognize the need for providing direct e-distribution via a single-dealer platform. But with tablets now outselling desktop PCs, mobile delivery channels are set to become a major factor in customer attraction and retention. Citigroup, the world’s largest FX dealer, recently chose Caplin technology to provide advanced mobile trading capabilities through its Velocity iPad and Velocity iPhone offerings.

Caplin concept art for FX mobile trading app
Caplin Concept Art for FX Mobile Trading App

“Now that early concerns around potential compliance and security have been addressed, mobile trading is starting to feature prominently on many firms’ roadmaps,” says Paul Caplin, CEO Caplin Systems. “At first these were expensive to develop and run, but with our hosted SDP technology and FX Mobile, they are within the reach of almost any bank,” Caplin added.

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