FFastFill, a leading provider of application services to the electronic financial community announces it is upgrading MF Global UK's foreign exchange trading platform from the existing Crossfire system to FFastFill's new FFastFill FX platform.
MF Global UK will launch the upgrade with 21 interbank-derived currency pairs using the fully risk managed application for retail FX trading.
This new FX service now enables MF to benefit from a highly cost effective hosted Straight Through Processing ("STP") solution.
Keith Todd, Executive Chairman and CEO of FFastFill said: "We are extremely pleased with the transition of MF Global UK from Crossfire to FFastFill FX, which allows them greatly increased market access, functionality and the benefit of the fully hosted solution. Adding FX to our product range further strengthens our multi-asset and hosted Software as a Service (SaaS) strategies"
FFastFill's coverage of FX extends across the trade cycle from front end to back office. Its risk management functionality includes fully flexible pre and post trade risk management. These allow brokers to pre-set parameters which define client access to markets ("pre-trade") and monitor and control subsequent investment risk arising from price movements ("post trade").
Its multi-asset back office system has been processing FX for a number of years and recently added a number of new features. Its front end, called TradingPro, now covers spot, forward, margin and deferred FX deals, with the latter providing a CFD 'look alike' that is increasingly popular with retail, institutional clients and proprietary trading desks. The system has also developed new client statements which are delivered electronically.