FX Alliance Inc. Launches Multibank Options Trading
(Thomson Reuters ONE) -
FXall Launches Multibank Options Trading
Enhances Broadest Institutional FX Product Set To Meet Clients' Needs
2 July, 2012 - FX Alliance Inc. ("FXall") (NYSE:FX), the leading independent
global provider of electronic foreign exchange trading solutions, announced
today that clients are now able to execute FX options on the FXall Trading
platform. Clients can now submit FX option request-for-quotes (RFQs) to
multiple banks and deal electronically on the same platform they use for trading
in spot, forwards, swaps, non-deliverable forwards (NDFs), precious metals and
money markets.
Participants completed live option trades in FXall's production environment on
Friday as part of its options roll-out program. FXall offers a full end-to-end
options workflow solution including pre-trade indicative calculations, execution
of multiple strategies with or without delta exchange, and post-trade
functionality for settlement, premium netting and payments. At initial launch
BofA Merrill Lynch and Credit Suisse will be providing streaming electronic
options prices to clients. Eight providers will support the post trade
settlement functionality and additional banks are expected to become liquidity
providers in the future.
Phil Weisberg, CEO at FXall commented, "We continue to extend our product
offering to meet the complete execution and workflow needs of our clients, and
now the full suite includes FX options. We have worked closely with BofA Merrill
Lynch and Credit Suisse to evolve the electronic FX options market and deliver a
superior user experience. We anticipate that many of our existing clients will
want to take full advantage of this new integrated capability that is delivered
uniquely through this channel. As our clients' conflict-free partner of choice,
we continue to invest in our technology to provide innovative products and
solutions to manage risk and fulfill trading objectives."
Chris Bae, global co-head of FX Trading at BofA Merrill Lynch commented, "Our
commitment to clients has always been to deliver FX Options liquidity to the
highest standard. For BofA Merrill Lynch, partnering with FXall ensures we
continue to meet the e-FX Option needs of existing clients, as well as any new
corporate clients who want to take advantage of our capabilities; a key priority
for BofA Merrill Lynch as we look to serve this important client set. We are
extremely excited about being at the vanguard of this e-FX options initiative
and look forward to working closely with FXall in the future."
FXall's option product supports the trading of European option strategies
including Puts, Calls, Straddles, Strangles, Spreads, Collars, Butterflies and
Strips. Users can also create custom multi-leg strategies to facilitate cash
flow planning. The platform's option calculator facilitates price discovery by
solving for strikes, premiums and notional amounts prior to execution.
"FXall's option solution is fully integrated into our client's trading and
settlement workflow, which makes our offering unique in the market. FXall is
pleased to help bring the benefits of electronic trading to the market today,
while also taking an evolutionary step forward in meeting the objectives of
financial regulatory reform for transparency and best execution," said Eric
Jawitz, Director, Options Product Manager at FXall.
About FXall
FXall is the leading independent global provider of electronic foreign exchange
trading solutions, with over 1,000 institutional clients worldwide. FXall's
offices in New York, Boston, Washington, London, Zurich, Hong Kong, Tokyo,
Singapore, Sydney and Mumbai serve the needs of active traders, asset managers,
corporate treasurers, banks, broker-dealers and prime brokers.
For more information on FXall, visit www.fxall.com
For further information, please contact:
Dafina Grapci-Penney
Telephone: +44 20 7324 5484
Mobile: + 44 752 533 5733
Email: dafina.grapci-penney(at)greentarget.co.uk
Options Trading Product Sheet:
http://hugin.info/150837/R/1623267/518867.pdf
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originality of the information contained therein.
Source: FX Alliance, Inc via Thomson Reuters ONE
[HUG#1623267]
Datum: 02.07.2012 - 15:01 Uhr
Sprache: Deutsch
News-ID 161802
Anzahl Zeichen: 5059
contact information:
Town:
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Kategorie:
Business News
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