GFI Group launches Fenics Trader - a liquidity venue for forex options
It's interesting to see how the niches of forex are developing on their on now - both binaries and options are becoming a bit more popular. I still think that forex options are going to be somewhat marginal in the coming years but binaries may become more popular with unskilled traders.
Just recently FX Bridge Technologies announced that Citi FX will provide foreign exchange prime brokerage services to eligible brokers using FX Bridge’s Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term to offer options, CFDs and spot FX trading to clients. I'm sure we will see more of such news in the coming months.
GFI Group (NYSE: "GFIG") announced the launch of Fenics Trader, a single point of access to multi-bank Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term for foreign exchange options. This pioneering technology facilitates independent FX options price discovery, offering a "many-to-many" venue for bilateral trading and execution. FENICS Trader is supported by 9 of the world's leading banks, with others to go live in early 2011. Live liquidity banks include BNP Paribas, Commonwealth Bank of Australia, Credit Suisse, UBS and Unicredit Bank AG.
During a 6 month soft launch period, trade volumes grew impressively, rising to over 120 trades per month. This soft launch involved 20 of GFI FENICS' clients.
FENICS Trader allows clients to calculate indicative prices based on banks' proprietary volatility surfaces. Using "Request for Quote" (RFQ) technology clients receive a tradable price from their preferred liquidity bank. Once the price is agreed, electronic execution is completed on a bi-lateral basis. At present FENICS Trader supports European vanilla and simple two-legged structures. Trades can be priced in volatility or premium terms. FENICS Trader is available to clients via the FENICS ProfessionalTM platform.
It's interesting to see how the niches of forex are developing on their on now - both binaries and options are becoming a bit more popular. I still think that forex options are going to be somewhat marginal in the coming years but binaries may become more popular with unskilled traders.
Just recently FX Bridge Technologies announced that Citi FX will provide foreign exchange prime brokerage services to eligible brokers using FX Bridge’s Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term to offer options, CFDs and spot FX trading to clients. I'm sure we will see more of such news in the coming months.
GFI Group (NYSE: "GFIG") announced the launch of Fenics Trader, a single point of access to multi-bank Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term for foreign exchange options. This pioneering technology facilitates independent FX options price discovery, offering a "many-to-many" venue for bilateral trading and execution. FENICS Trader is supported by 9 of the world's leading banks, with others to go live in early 2011. Live liquidity banks include BNP Paribas, Commonwealth Bank of Australia, Credit Suisse, UBS and Unicredit Bank AG.
During a 6 month soft launch period, trade volumes grew impressively, rising to over 120 trades per month. This soft launch involved 20 of GFI FENICS' clients.
FENICS Trader allows clients to calculate indicative prices based on banks' proprietary volatility surfaces. Using "Request for Quote" (RFQ) technology clients receive a tradable price from their preferred liquidity bank. Once the price is agreed, electronic execution is completed on a bi-lateral basis. At present FENICS Trader supports European vanilla and simple two-legged structures. Trades can be priced in volatility or premium terms. FENICS Trader is available to clients via the FENICS ProfessionalTM platform.