Velsys unveils V-FX trading platform for regional banks

Source: Velsys

Velsys Limited, a leading developer of innovative software that integrates bank, broker and client-side FX dealing technology today launched V-FX - an SaaS platform that provides a complete white-label FX trading solution for banks.

V-FX, one of the first fully functional FX Dealer workstations in a cloud, is especially targeted at regional banks seeking to offer liquidity to customers.

Kevin Ashby, CEO and Chairman of Velsys Limited said, "Regional banks are looking for FX trading solutions that are simple to use and provide good flexibility and transparency. V-FX ticks all of these boxes enabling regional banks to participate on the same level as their larger counterparts. It empowers them to manage pricing and liquidity and provide clients with an attractive trading environment."

V-FX represents a breakthrough not only in terms of the overall IT/resources and total cost of ownership but also in the way that it manages liquidity and trade flow. With V-FX, regional banks are presented with a single application that incorporates liquidity management, risk management, and flexible electronic trading. The solution can support the requirements of margin or cash trading models, as well as steaming execution, and RFQs. This benefits both corporate as well as private clients.

V-FX is now live having been trialed since early 2010. One bank that is using V-FX to trade with its financial institution clients is Dubai based Mashreq Bank. Syed Qamar Nasim, Director of Financial Institutional Sales, Mashreq Treasury & Capital Markets, said, "V-FX is providing us with the opportunity to develop our FX franchise and gives us real flexibility to develop trading relationships with our downstream clients. The technology has meant we have had a low start-up investment and the Velsys team has guided us through every step of the implementation."

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