smartTrade Technologies, a provider of multi-asset end-to-end trading solutions, announced this Thursday that Mizuho Bank Japan has chosen the company to deliver its electronic foreign exchange (forex) platform.
Specifically, the Japanese bank has chosen smartTrade’s LiquidityFX platform, which provides low latency connectivity with aggregation, execution, smart order routing, order management, distribution, analytics, and risk management.
Through the LiquidityFX solution, Mizuho Bank will be able to centralize the aggregation process and optimize, as well as internalize, the management of their FX flows, the statement said.
By utilizing the LiquidityFX platform, Mizuho bank will be able to cut down on costs, as well as create new investment opportunities for their clients, according to today’s release.
Commenting on the collaboration, Hiroaki Aoyama, Global Head of FX at Mizuho, said: “We are pleased to announce that we have selected smartTrade’s solution for developing our core e-FX distribution system.”
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“The e-FX sphere, today, undeniably plays more than a central role within Mizuho Bank, both internally and through client facing channels. We would like to strengthen our FX business by partnering up with smartTrade and utilizing their LiquidityFX platform.”
smartTrade Enters into New Growth Phase
Today’s announcement follows on the heels of smartTrade announcing that it was pursuing a new phase of growth and is looking to expand into new regions, as Finance Magnates reported.
“After a thorough review process, we are very pleased that Mizuho has selected our LiquidityFX platform to support their e-FX growth,” added David Vincent, the CEO of smartTrade Technologies.
“The combination of our low latency connectivity and execution stack combined with sophisticated pricing and distribution functionality will allow them to enhance their execution and risk management efficiency.”
Towards the end of last year, smartTrade was also chosen to build SEBA Crypto AG’s cryptocurrency and traditional assets trading platform. The company plans on building a regulated bank as a bridge between the cryptocurrency and regular financial economies, based in Zug, Switzerland’s ‘crypto valley.’