TradAir, the front office optimization solutions provider, announced today that Yapi Kredi, one of the largest banks in Turkey, has selected the TradAir Rate Engine and Distribution solution for its global foreign exchange (FX) trading desk.
Yapi Kredi will use TradAir Rate Engine and Distribution, the only neutral price distribution network, to stream to various platforms as well as to Yapi Kredi's internal branch network. TradAir offers the largest market maker liquidity network including single dealer bank platforms as well as all major ECN, brokers and exchanges.
TradAir offers a modular suite of front office optimization solutions, including TradAir Rate Engine, TradAir Distribution, TradAir Aggregation, TradAir White Label and TradAir Algo. Using TradAir products, banks such as Yapi Kredi are able to provide better pricing for their customers and improve their distribution to and penetration of global markets, introducing new revenues.
Illit Geller, CEO, TradAir said: "We are delighted that Yapi Kredi, a leading and innovative Turkish bank, has chosen TradAir Rate Engine and Distribution for its global FX trading desk, delivering customized price distribution to its clients and branch network. As a result, Yapi Kredi will be able to participate in the FX market alongside the leading global banks on an equal footing. We look forward to working with Yapi Kredi and building on our relationship going forward."
TradAir's technology brings together all the functions of source selection, pricing, distribution, risk and order management as well as hedging in one single intuitive and customizable screen. Traders no longer need to view multiple screens to manage and participate in their local currency pricing/trading; instead they can focus on expanding their market opportunities.