Edgewater Markets LLC announced on Monday that its trading volumes with the Russian ruble doubled in 2020, compared to the previous year’s numbers, touching a new record.
However, the company did not reveal any absolute figures on the volumes with the particular currency.
“I am very pleased with our 2020 results. It’s the culmination of our development of local Russian partnerships, credit remediation, and efficient distribution to our clients globally,” Telmo Simoes, Edgewater Markets’ EMEA Institutional Sales Director, said in a statement.
Focusing on Latin America
Edgewater Markets is a provider of electronic forex workflow management solutions. Established in 2009, the company now provides FX and precious metal services to more than 300 global institutional clients.
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The company has expanded its international presence over the years and now has offices in London, New York, Singapore, Mexico City and Santiago, Chile. Additionally, it is improving its services with partnerships and is heavily focusing on the Latin American markets. One of its product suites is tailored for the Latin American forex needs.
Last year, the company revealed that it executed $500 million worth of spot gold and silver volumes daily in the first half of the year.
“Demand has never been higher, with increases already experienced in January, we foresee significant growth for RUB in 2021,” Simoes added. “A key part of the offering to our regional partners is innovative technology solutions that complement our distribution capabilities, advancing our strategic relationships and technical footprint in the region for 2021.”
Meanwhile, Edgewater Markets is on a hiring spree and made a number of key appointments over the past few months.