Trader Tools a liquidity solutions provider has announced today that Rand Merchant Bank, one of the leading investment banks in South Africa, has selected TraderTools’ Liquidity Management Platform™ as the foundation for its FX trading desk.
Says CJ Giddy, Head of the Fixed Income, Currency and Commodities (FICC) operations at RMB: “The addition of TraderTools to RMB’s FX trading capability both enhances our competitiveness in the market and the value we create for our clients.”
The ZAR is currently trading at 8.336 against the greenback.
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TraderTools’ FX trading platform will provide Rand Merchant Bank’s clients with the latest FX pricing and aggregation technology, enabling superior algo-trading and auto-hedging capabilities.
Says Mark Mayerfeld, executive VP, International Sales at TraderTools: “We’re strongly grounded in the financial services industry, but we also push technology to its limits in order to provide our customers with the most profitable FX trading platform available.”
South Africa was home to the most liquid single stock contracts, daily trades reaching 700,000 contacts.
Forexmagnates team have written a detailed repair on FX in Africa, available in the Q1 2012 quarterly report.