BidFX, a cloud-based provider of FX trading solutions, welcomes global markets banking specialist ICBC Standard as the newest liquidity provider on the FX EMS, the firm announced today.

ICBC Standard Bank Plc is a global markets banking specialist offering Commodities and Fixed Income, Currencies and Equities (FICE) products with a focus on emerging markets and commodities.

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Headquartered in London, ICBC Standard Bank Plc has offices in Hong Kong, Shanghai, Singapore, and New York.

On 1 February 2015, Industrial and Commercial Bank of China Limited (ICBC) acquired a controlling stake in Standard Bank’s London-based Global Markets business, including Standard Bank Plc and other international operations. Standard Bank Plc was renamed ICBC Standard Bank Plc to incorporate its new shareholding structure.

The union of ICBC and Standard Bank creates a banking platform to serve the growing demands of Chinese clients for global commodities, fixed income, currency, and equities products while furthermore continuing as a distribution platform for African risk due to Standard’s South African roots.

EM liquidity has become a must – BidFX

“As the latest BIS survey on FX indicates, currencies of emerging market economies (EMEs) are gaining market share, reaching 25% of overall global turnover. To that extent, it has become increasingly evident that partnering with the BidFX team to distribute our emerging market liquidity.ectronic provision of EM liquidity, both deliverable and non-deliverable (NDF), has become a must,” BidFX’s Head of EMEA Sales, Roger Lee, said.

“With that in mind, having the addition of a ‘frontiers pairs’ FX specialist such as ICBC Standard will be valued by the BidFX client base. We therefore welcome ICBC Standard as the latest provider on BidFX,” he added.

“We look forward to  BidFX is a natural partner in the space given its client base. Its strategy fits well with our regional focus on Africa & Frontier Asia markets, in which we have a substantial network due to our unique shareholding structure. ICBC Standard Bank is able to offer competitive and complementary products where most major banks are not active,” Simon Goldberg, Director Corporate & Banks Sales at ICBC Standard Bank Plc, said.