INTL FCStone Markets, LLC, a subsidiary of INTL FCStone Inc. (Nasdaq:INTL), has launched a new capability for trading Over the Counter (OTC) foreign exchange (FX) products to select users of CQG, according to an INTL FCStone statement.
INTL FCStone is a financial services provider, presently offering exposure into a number of financial markets, including commodities, futures, securities and currencies.
Under the new expansion, CQG clients will now be afforded access and trading capabilities for OTC FX, including futures and spot FX on INTL FCStone Markets’ consolidated platform.
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More specifically, qualified clients will be allowed to trade via the CQG API or front end and INTL FCStone Markets, who is slated to stream executable spot rates on 75 currency pairs.
According to Edgar Ramon, Global Head of FX for INTL FCStone’s subsidiary FCStone, LLC., in a recent statement on the expanded offering, “By integrating FX pricing into the CQG platform, clients will be able to trade both futures and FX on the same trading platform instead of using two different systems.”
This is the first development at INTL FCStone since last month, when TradAir announced that it had been selected by FCStone to administer its eFX trading offering. As per the pact, TradAir, a provider of FX liquidity optimization technology and an HTML5 front-end trading platform, provides an end-to-end eFX solution to FCStone.