Leading global provider of FX and CFD products, IKON, has reported to Forex 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 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.
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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.
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
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.