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FX Bridge Technologies inks Citi FX deal

14 February 2011  |  2357 views  |  0 Source: FX Bridge Technologies

FX Bridge Technologies Corp. today announces that Citi FX will provide foreign exchange prime brokerage services to eligible brokers using FX Bridge's trading platform to offer options, CFDs and spot FX trading to clients.

The new service will support credit access for brokers to provide multibank options pricing to clients using the platform.

"Citi is pleased to provide foreign exchange prime brokerage services and options liquidity to FX Bridge's leading broker clients," said Andrew Coyne, head of Citi FX Prime Brokerage. "We believe the integration of Citi's market leading prime brokerage platform with FX Bridge's technology and global broker franchise are a powerful combination."

FX Bridge's Pro Trader Plus platform is used by brokers and regional banks globally to offer trading in spot FX, contracts for differences (CFD) and FX options to their individual and institutional clients.

Previously, only brokers that were capable of making markets could use the platform. Now brokers without market making capability, or those who prefer not to take market risk, can use the platform with multibank pricing and/or that of another bank or liquidity provider. Brokers using this liquidity solution will be the trading counterparty to a bank prime broker or intermediary and act as counterparty to their clients.

"We welcome Citi FX as a prime broker and are pleased to offer its world-class FX prime brokerage services to our broker clients," said Stephen Best, CEO, FX Bridge. "Providing multibank liquidity enables brokers to offer world class FX options markets to clients. Selecting Citi's FX prime brokerage service reflects our commitment to enhancing our wholesale FX offering by refining our credit and liquidity alternatives as well as our trading technology."

 

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