Edgewater facilitates direct trading in seven Arab currencies

abdelaziz Fathi

Edgewater Markets, the NFA-registered non-bank FX liquidity provider, has introduced its FX trading technology and credit intermediation services tailored for the Gulf Cooperation Council (GCC) countries – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates – along with Egypt.

Edgewater Markets

Edgewater said this strategic move is set to transform the landscape of foreign exchange trading within this region. The firm is not only rolling out its trade execution and liquidity aggregation services but is also actively engaging with local liquidity providers.

The electronic FX liquidity and distribution specialist says that the step helps meet the needs of its corporate and institutional clients, including local banks, pension funds, hedge funds, brokers and end users, for hedging and execution of real MENA FX and non-deliverable forwards business.

By extending its services to encompass GCC currencies and Egypt, the firm provides local traders and investors within the region with advanced tools and a seamless trading experience. The development also gives Edgewater’s FX community in other regions more access to emerging markets while bringing greater efficiency and reduced operational complexity.

Brian Andreyko, Chief Product Officer at Edgewater Markets, commented: “This development marks a major shift in how foreign exchange trading is conducted in the GCC and surrounding region. At Edgewater, our technology enables us not only to support 24×5 forex trading via GUI, but also to act as a credit intermediary for our clients, connecting them directly with local banks and ensuring they get the best rates available.”

Andreyko also elaborated on how this new offering aligns with Edgewater’s overall strategy: “Edgewater is committed to helping our clients grow by providing customizable electronic FX trading technology paired with superior liquidity. By extending our technology and credit intermediation services into this growing region, we further enhance our ability to deliver tailored solutions that meet our clients’ specific needs.”

Edgewater has introduced a novel development in the industry by enabling direct client-to-liquidity provider connectivity through their technology stack. The integration of EdgeFX technology marks a progression that the company says potentially alters the dynamics of foreign exchange trading for Edgewater’s clients.

Edgewater Markets is a provider of electronic foreign exchange workflow management solutions, as well as FX and precious metals optimisation software. The company provides its services to more than 350 global banks, asset managers and other financial institutions.

Earlier this month, its UK-based entity, Edgewater Markets Limited, secured a license from the Financial Conduct Authority (FCA) in order to solidify its regulatory status and permissions within the United Kingdom.

Read this next

blockdag

Groundbreaking Innovations in BlockDAG’s Keynote 2 Drive Over 1120% Increase; Toncoin & Celestia Prices Rise

Explore BlockDAG’s Keynote 2, detailing the cutting-edge technical advancements that led to a significant presale boom. Discover how these innovations have driven BlockDAG’s success, and get the latest updates on Celestia and Toncoin prices.

blockdag

BlockDAG X1 Beta App Pioneers in Crypto Mining Amidst Ethereum vs Solana Rivalry and XRP Price Increase

Dive into the details of BlockDAG’s X1 beta app’s global tech presence in Shibuya, Las Vegas, and Piccadilly Circus and its pre-sale triumph during a spike in Ethereum, Solana, and XRP values.

blockdag

BlockDAG Hits $50.4M with Active Dev Release & Community Engagement; Binance Coin Price Drops and JasmyCoin Rallies

Explore how BlockDAG bolsters its reputation through a steady stream of Development releases. Get insights on Binance Coin price trends and the recent Jasmy Coin rally.

Crypto Insider

5 Upcoming Crypto for 10x Gains: How $1000 Can Become $10,000

Consider a situation where a $1000 investment may grow to a whopping $10,000. Astute Bitcoin investors have experienced this as a reality rather than a fantasy.

Retail FX

Weekly Roundup: eToro links up with Elon Musk, US crackdown on Russian FX

Let’s take a look back at top stories that dominated the financial markets in our Weekly Round coverage. This week’s digest takes a deep dive into the most recent events and trends within the Forex, Fintech, and cryptocurrency.

blockdag

Must-Watch Top 5 Crypto Picks for Q2 2024 Featuring BlockDAG, Toncoin, Solana and More

Dive into BlockDAG’s meteoric rise and explore other promising altcoins like Pepe, Toncoin, Solana, and Render for superior returns.

Retail FX

Clone of Admiral Markets draws FCA attention

The United Kingdom’s financial markets watchdog today unmasked another fraudulent entity, this time bringing to light a clone firm that has been posing as FCA-‎authorised brand, Admiral Markets UK Ltd.

Digital Assets

Gemini Earn users to recover $2.18 billion in crypto payouts

Cryptocurrency exchange Gemini has agreed to pay $50 million worth of digital assets to investors in its Gemini Earn program as part of a settlement with the New York Attorney General (NYAG), announced on Friday.

Fundamental Analysis, Market News, Tech and Fundamental

Global FX Market Summary: British Pound (GBP) Weakness, US Inflation, Euro, USD June 14 ,2024

British Pound weakens due to lower inflation expectations, potential policy changes from Reform Party, and broader economic concerns.

<