TraderTools Awarded Best Liquidity Aggregation System in FX Week’s 2016 e-FX Awards
Winners announced at awards ceremony held in New York on July 12, 2016
New York, NY, July 12, 2016 – TraderTools Inc. (TraderTools), which delivers the world’s most advanced FX trading platform, announced today that it has been recognized by FX Week for providing the Best Liquidity Aggregation System in the publication’s 2016 e-FX Awards.
According to FX Week, “Due to constraints of regulation and capital requirements, top traditional market-making banks are finding their non-bank counterparts eating more of their lunch. Emerging and local markets currencies are both tricky and attractive at the same time. Tricky, because there is less international liquidity in these units than in major currencies, but attractive because spreads are wider, so profitability is higher.” TraderTools identified the attraction, as well as the demand for consistent pricing in emerging markets currencies, resulting in the recently announced launch of its’ Unique Liquidity Network (“ULN”) by building a network of Tier 2 banks whose customer franchises in local markets offer a rich vein of liquidity.
“We listen to our customers. It is really that simple. We looked at the market a few years ago and we saw there was definitely an underservice of the mid-tier regional banks in Turkey, South Africa, and in northern and Eastern Europe. And, in engaging with those banks, we found they had an appetite for liquidity in their local markets that just wasn’t being met,” says Yaacov Heidingsfeld, chief executive of TraderTools.”
“The reason for the appetite in local currencies was to service their natural customer business. The reason the large liquidity providing banks are less interested in providing real competitive pricing to these very same institutions was an understandable information disadvantage that they felt they were in,” he adds.
TraderTools delivers traditional (Bank), alternative (non-bank) and local market liquidity – with true relationship pricing – both price and execution aggregation – in an out-of-the-box SaaS solution. Banks brokerages and the buy-side, use TraderTools as the foundation of their FX businesses, for quicker time to market, better execution and higher profit.
TraderTools, Unique Liquidity Network, and the tagline “The eFXperts” are trademarks of TraderTools Inc.
Mark Mayerfeld, EVP, International Sales