Fortex has opened a new office in Shanghai office, further solidifying its bid to penetrate China’s institutional foreign exchange (FX) market, according to a Fortex statement.
Fortex is a provider of a number of FX services and electronic communication network (ECN) trading platforms. The company boasts a deep product suite with such capabilities as its XCloud server and XBook matching engine. With the opening of its Shanghai office, the Silicon Valley headquartered platform provider now maintains offices in four major areas, including New York and Hong Kong.
The group’s Shanghai office will aim to help attract clients and investors who are looking to get into the FX investment sector. The move echoes a similar trend from a number of brokers, technology and solutions providers, who have set their eyes on the China and the Asia-Pacific (APAC) region as the next growth hub.
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According to Alexander Braid, Chief Operating Officer of Advanced Markets, in a recent statement on the office’s inception, “It gives me great pleasure to represent Advanced Markets in extending our warmest congratulations to Fortex on its Shanghai office opening.”
“As a long-time client and business partner of Fortex, we have always enjoyed close cooperation and robust, reliable, and transparent service delivered by the firm’s technology. I am convinced that Fortex’s market-leading technology will greatly contribute to the ongoing progress of brokerage services in Asia,” he added.
Last month, Fortex and Advanced Markets jointly launched a turnkey FX brokerage solution offering entry points for a one-stop shop and an end-to-end solution that will help allow new and existing FX brokerages to compete on a level playing field with established FX brokers. The fully hosted packages included a branded MT4 platform hosted in the NY4 and HK3 Equinix data centers, web MT4 platform and Fortex MT4 bridge OMX.