Currenex upgrades FX trading portal

Currenex upgrades FX trading portal

Currenex has upgraded its FXtrades service to offer single bank price requests and improved transaction reporting capabilities. The Currenex Web site has also been enhanced through deals with and Tradermate for the provision of broker research and analytics.

FXtrades currently supports a multi-bank price auction, in which buy-side participants choose from simultaneous prices quoted by sell-side institutions in a reverse competitive auction. FXtrades will now also support "Exclusive Fast Quote," which enables members to request immediate quotes from a single bank of choice without participating in the price auction. The new service enables corporate members to choose the most appropriate trading mechanism for their specific trade, says the company.

Currenex has also added reporting capabilities designed to enable members to add user-definable fields to each trade record for supporting FAS 133 and other purposes. The new field has been introduced to help users achieve more effective, internal tracking and intelligence as well as facilitating integration with treasury management system vendors.

Currenex is also expanding its information and research services by adding interactive messaging, fundamental analysis research reports, and technical analysis tools. Interactive messaging called "Instant Exchange" has been introduced to enable instant messaging capabilities between FXtrades members - clients and banks - to support the trading process.

Currenex FXtrades members will also have access to's broker research service MultexNet, and to real-time FX technical analysis charts from Tradermade International. Through the latter, users will be able to undertake online analysis of trading activity across 20 currency crosses on the FXtrades service, says the company.

FXall and Atriax, the two primary bank-backed alternatives to privately-held Currenex, have yet to set a firm date for the commencement of trading.

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