One of the biggest Turkish forex brokers, ALB Menkul Degerler, selected ClearVision by CFH Clearing to gain access to the company’s technology solutions. The broker was attracted by ClearVision’s advanced risk management tools and the opportunity the solution gives to automate more processes.
The move will free up more resources at the brokerage to focus on different areas of its business. The company is aiming to gain a more global focus which would make sense especially in the Turkic languages region, which includes fast growing oil-rich economies such as Azerbaidjan and Kazakhstan.
The deal comes after earlier this year, when CFH Clearing announced that it has complied with Turkish SPK regulations and appointed Mehtap Önder as Regional Director.
ALB Menkul Degerler’s, General Manager, Metin Aytekin, states in the firm’s announcement, “The company is looking forward to our collaboration with CFH Clearing. We sincerely believe this partnership will take us to the global stage and increase our strength in the local market place.”
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ClearVision offers a set of modules providing all the tools necessary for managing a business, including Prime of Prime interbank liquidity, support for multiple trading platforms, liquidity providers, back office systems and risk books.
ClearVision is rapidly expanding into the Turkish market. Its solutions currently marketed in the region deliver central liquidity management, clearing and risk, as well as the functionality of managing multiple front-ends from one single back-end solution.
CFH Clearing’s Regional Director, Mehtap Önder, elaborated on the local market, explaining, “The Turkish industry is rapidly evolving and brokers are excited by ClearVision, which offers capabilities which simply weren’t available to them before. We are experiencing a lot of interest from Turkish brokers and are building a strong presence in the region.”
Lars Holst, CEO, CFH Clearing, commented in the company announcement, “Our aim is to be the leading technology provider for the Turkish regulated FX market and we are thrilled that one of the leading brokers in Turkey has selected us. We look forward to a strong partnership with them.”