Source: Integral Development
Integral Development Corp., a leading provider of FX trading solutions and services, announced today that it launched Integral SEF (ISEF), offered through INFX SEF, a fully-owned subsidiary of Integral Development Corp.
This follows the decision by the U.S. Commodity Futures and Trading Commission (CFTC) Division of Market Oversight to grant INFX SEF temporary registration as a swap execution facility.
"We are very pleased to offer all FX market participants a regulatory compliant platform for NDF trading," said Harpal Sandhu, CEO, Integral Development Corp. "We leveraged our expertise in OTC FX trading technology to meet new regulatory requirements in order that customers can continue conducting their FX business without interruption."
ISEF will offer a range of functionality for the electronic trading of FX non-deliverable forwards (NDFs) including a Request-for-Quote (RFQ) system and an integrated order book. "Today, most NDF liquidity resides with dealers. Relationships and bespoke requirements are still very much an important part of how NDFs are traded," said Vikas Srivastava, CEO, INFX SEF. "We designed Integral's SEF so that it preserves what is best about OTC markets while offering a regulatory compliant platform."