BYFX HK Inks Agreement with Barclays to Access FX Liquidity

BYFX HK Co., Limited, a provider of institutional 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 solutions and foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term) trading, announced on Monday that it has signed an ISDA Master Agreement with multinational investment bank Barclays PLC.

An ISDA (International Swaps and Derivatives Association) Master Agreement is the most commonly used master service agreement internationally for over-the-counter (OTC) derivatives transactions.

As per the agreement between BYFX HK and Barclays, the two firms can now enter into forex transactions. This means the Hong Kong-based company will have access to the liquidity of interbank players, using Barclays as one of its forex brokers.

According to Monday's statement, BYFX HK expects that the agreement will allow its clients to trade more efficiently, especially in regards to spot FX trading. Furthermore, thanks to the agreement, the company believes its position in the forex market will be elevated.

Commenting on the partnership, the CEO of BYFX HK, Zhu Zhen said: "I strongly believe that BYFX HK's entering into an ISDA Master Agreement with Barclays will improve the liquidity and pricing for our clients. We are excited to launch more FX products in the future.”

About BYFX HK

BYFX HK is a subsidiary of SBI Holdings, a Japanese financial service giant. SBI Holdings is part of SBI Group, which has more than 230 companies around the world. BYFX HK company provides liquidity and spot FX trading solutions for institutional clients. The firm is based in Hong Kong and is authorized and regulated by the Hong Kong Securities and Futures Commission.

At the beginning of 2017, Finance Magnates reported that BYFX HK joined forces with Seabury Global Markets LLC (SGM), a subsidiary of Seabury Capital. The partnership was established to allow BYFX to rapidly extend its innovation and market focus into the Asian marketplace.

Earlier this year in July, SBI Virtual Currencies, part of SBI Holdings, announced the launch of its new cryptocurrency exchange, VCTRADE. The exchange is the world’s first bank-backed cryptocurrency exchange.