Neo is proud to announce the opening of its Neo FX Hub, a foreign exchange (FX) management solution for European corporates.
Neo has presented its solution during Finovate Europe 2019 in London and during the World Mobile Congress 2019 in Barcelona.
Leveraging the license obtained from the Spanish market authorities in November 2018, Neo FX Hub is a true multi-asset solution. It offers access to FX spot, deliverable & non-deliverable forwards, swaps and options. Neo will allow corporates to hedge any type of FX risk in more than 90 currencies, in a simple and cost-efficient way by keeping commissions lower than what banks or brokers offer.
Neo FX Hub also includes advanced reporting functionalities to simplify post-execution management.
Neo FX Hub will allow FX trade execution via the group proprietary platform getneo.com. Neo will also be available to other fintech or banking partners via API.
Advisory remains at the heart of Neo’s philosophy, since each client will benefit from a personalised FX risk mapping and a bespoke FX hedging program.
Laurent Descout, CEO & co-founder, said:
“Launching the Neo FX Hub is a major achievement for the group. Foreign exchange management is too often described as complicated, expensive and not transparent. With our FX Hub, we have built from scratch a trading floor and coupled it with a treasury management platform. This is all available without having to install anything. We have taken the first step towards re-engineering a full corporate banking platform.”
Contributed | what does this mean?