Pershing has implemented London-based Dene's Gate software in an initiative to offer online foreign exchange trading to introducing broker-dealer customers.
The service provides an alternative to telephone-based trading and is accessed through NetExchange Pro, Pershing's Internet-based account management and trading platform.
Pershing's FX trading desk supports a global customer base that executes transactions in a wide range of foreign currencies.
Brian Shea, COO, Pershing, says: "We worked closely with Dene to take a high quality FX trading tool, created primarily for institutional trading desks, and modify it to accommodate our wide range of customers globally and the 4.7 million individual investors they support."
Pershing also commissioned Dene to design and install an integrated module to allow for the real-time management of currency positions resulting from trades executed through Gate. This enhancement enabled the firm to eliminate more complex and expensive software packages from other vendors, says Shea, and provided a simplified solution with straight-through connectivity to Pershing's back office.