FXall adds money markets trading and prime brokerage messaging to platform
14 April 2003 | 3627 views | 0
Multi-bank foreign exchange trading platform FXall is to extend its functionality to include money markets instruments and is launching a messaging service between prime brokerages and clients.
The money markets functionality, which is expected to be available in Q3, will enable clients to confirm money market trades automatically within Fxall's settlement centre.
The prime brokerage solution will allow for real-time messaging through its trading centre and automatic notification of prime brokerage deals between banks through its settlement centre.
Philip Weisberg, CEO of FXall, says: "We will bring to other asset classes and to prime brokerage the same level of efficiency and transparency that we have delivered for the world’s foreign exchange markets."
The portal currently has 43 global liquidity providers. FXall says volumes on the platform have soared since automating FX trades, most recently breaking through the $10bn dollar mark in a single day.
The surge in volumes has allowed the firm to accelerate business plans and Fxall says it expects to break-even earlier than anticipated this year.