Currenex recently upgraded its FX trading services to include order management tools and functionality that give more control to traders while streamlining the trade experience.
For the month following the upgrade on December 18th, average daily trade volume for Currenex continued to trend higher, sustaining a threefold increase compared with the same period from the previous year. Central to the 9.0 Release has been the Advanced Order Service for traders who use complex order types to enter and exit positions. Responding to feedback from Currenex White Label Partners, 15 additional enhancements have successfully been launched within the Release to deliver robust FX trading solutions.
"As a provider of Currenex services, PFG has found that allowing highly customizable orders to be submitted in the market gives our Forex trading clients maximum control when placing orders," said PFG Chief Operating Officer Russ Wasendorf, Jr. "Our customers choose strategies that will deliver on their own objectives, and PFG gives them the tools to do it. This release demonstrates an evolution in FX that's remarkably advantageous to our platform users."
In addition to standard order types such as Market, Limit, Stops, Hidden and Iceberg Orders, Currenex's Conditional Orders have been added to allow traders to define separate orders that are linked to each other and set to react based on predefined parameters. For instance the second "leg" on one of these orders may be dependent on the execution of the first and can be configured to act in response; similarly, both legs may be configured to act in tandem depending on variables defined by the trader. Currenex Conditional Orders include "If Done," "One Cancels Other," and "If Done OCO."
Other significant GUI enhancements in the recent 9.0 software release include a new Totalizer feature that allows a trader to quickly average spot deals. Improved reporting and printing functionality has been included in this release in addition to enhancements made to precious metals trading. Spot, Net & Roll is new functionality that allows customers to net multiple spot trades on a single currency pair down to a single exposure and then roll the position forward.
Clifford Lewis, Chairman and CEO added: "In line with Currenex's history of innovation, the release of 9.0 marks a continued commitment to our customers and enables Currenex to maintain its leader status in FX. Our liquidity and daily volume continue to increase as our customer satisfaction grows."