TraderTools Inc. (TraderTools), which delivers the world’s most advanced, production-grade FX trading platforms, announced today that four additional banks have subscribed to its LightFX relationship-based, on-demand FX aggregation service in recent weeks. Subscribers to the service now span four continents.
“Banks, hedge funds and others active FX trading are moving more of their trading and liquidity sourcing away from ECNs and public markets and over to single banks for relationship pricing,” said Yaacov Heidingsfeld, Chief Executive Officer at TraderTools. “In doing so they immediately benefit from higher fill rates and tighter spreads, but are then faced with the challenge of having 5 or 6 separate, single-bank platforms to deal with.”
“TraderTools provides the only 2nd-generation aggregation solution based on one-to-one relationship pricing with liquidity providers. Because we do not charge the liquidity providers and our algorithms comply with their business rules while providing detailed trading statistics, both our customers and their LPs are able to build more transparent relationships. Traders can either make more money per execution or use this liquidity to gain more market share, while the LPs enjoy more consistent and predictable flow,” continued Heidingsfeld.
He summarized, “This model creates a win-win situation and is helping the market move back to its roots – relationship trading with known entities as opposed to dark pools and mirage liquidity sources. Institutions are finding our on-demand, cloud-hosted service to be quicker to deploy and easier to operate than alternative platforms.”
TraderTools Inc. delivers the only complete, integrated, FX trading platform available on the market. Banks and brokerages use the TraderTools platform to increase FX revenues, reduce FX costs, improve FX spreads and access vital information to help run their FX businesses more efficiently and effectively.
FX desks traditionally deploy an assortment of vertical tools, developed internally or externally by different vendors. TraderTools replaces these disparate products with a single innovative platform that addresses the 4 most pressing FX challenges: an FX pricing engine, FX liquidity aggregation, global FX order management and FX white-labelling. It is an end-to-end solution designed to work seamlessly across all components and provide unparalleled visibility into the entire FX workflow. The result is an optimized FX Liquidity Management Platform™ – with advanced capabilities, like algorithmic FX trading and FX auto-hedging – designed to generate profits.
The TraderTools FX trading platform is the product of more than a decade’s worth of experience with some of the world’s largest financial institutions.
TraderTools, Liquidity Management Platform, Dynamic Liquidity Manager and the tagline “The eFXperts” are trademarks of TraderTools Inc.
Mark Mayerfeld, EVP, International Sales
Ian Tick, Director, Marketing