COESfx, Inc. establishes Spot FX Clearing Corp., to handle the clearing of trades on its proprietary forex trading platform.
Commencing on June 12, 2006, Spot FX Clearing Corp. began serving as the registered FCM for all trades executed on the COESfx Level 1 Trading Platform. The company will also be responsible for opening new accounts.
"Spot FX enhances the clearing capabilities of all trades that pass through the COESfx Level 1 Trading Platform. The management team of Spot FX has sixty years of experience in the forex industry. This will enable COESfx to dedicate more time to enhancing our proprietary trading platform and client services", said Ronald Balzano, president, COESfx.
"COESfx has one of the most advanced Electronic Currency Networks in the industry today, and their ECN model is the future of forex." said Theodore T. Wdowiak, president, Spot FX Clearing Corp".