Multi-Asset Class Traders to Benefit from Enhanced Prodigy Platform – One for All

Leading global provider of FX and CFD products, IKON, has reported to 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 Magnates that it has released a new version of its Prodigy platform. Under the latest upgrade, the new platform offers traders a one-stop solution to trade a range of asset classes, including Spot, Forwards, Options, Bullion, CFDs and Stocks.

The firm reported that its latest upgrade adds a number of key functionalities that support the growth of the Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term among international traders, particularly in regional markets, thus offering local products on the one terminal, thus reducing trader screen –real estate.

IKON has been an active player on the margin FX space for over a decade and its Prodigy platform was one of the first solutions that offered streaming prices on FX contracts, including Options and NDFs.

Engin Yikilmazoglu, Chairman and President of The IKON Group of Companies, commented about the advancement in a comment to Forex Magnates: “As IKON Group continues to expand its product lines and experiences growth across all metrics (clients, volume and assets); we have invested resources to ensure our technology meets our client’s requirements. We realize how important screen space is for clients. By having all their orders on one screen, clients have greater flexibility to follow all the markets they intend to trade.”

IKON’s global strategy has helped the broker establish regional operations, IKON Finance; its UK-regulated entity has been prominent in the UK market and caters to both retail and institutional traders.

The firm has been extending its global footprint, a spokesperson for the company added: “Our recent expansion into regional/localized markets required enhancement of our forwards and deliverable products. Prodigy offers these local financial institutions the ability to manage their Spot/Forwards and Options books on one platform. Now we can offer all our multiple products under one platform."

IKON has been active in developing new financial contracts in the commodities space, the firm collaborated with NASDAQ in 2012 to launch gold futures on the back of price hikes in precious metal.

Functionality

The platform has been developed by IKON’s in-house development team, FTECHNICS, some of the key attributes of the platform include:

-Quick ticket section- Professional High Speed, Stable Best

-Execution Services with Better fills

-Order ticket section- ability to view market depth and send

limit orders right from the depth

-Depth of Market for Large Order execution

-Auto execution on select options. RFQ for more complex strategies

-Direct execution on 3 months NDF contracts with RFQ on broken

dates

The platform offers streaming, NDFs, a financial instrument that is gaining traction among traders as emerging market currencies show attractive yields. The firm issued the USD/INR streaming NDF contract in 2011 and has been a pioneer in the sector.