Scandinavian Capital Markets launches new Foreign Exchange trading service for institutional traders

The collaboration combines Scandinavian Capital Markets’ and Currenex’s technological, operational and reporting solutions  to launch a new foreign exchange trading service for Institutional Traders. 

 Scandinavian Capital Markets announced today it has entered into a new partnership with Currenex – State Street’s technology provider that offers the FX community high-performance technology and deep pools of liquidity for anonymous and disclosed trade execution.

The collaboration combines Scandinavian Capital Markets’ and Currenex’s technological, operational and reporting solutions  to launch a new foreign exchange trading service for Institutional Traders. 

“Our new service caters primarily to institutional clients, including leveraged funds and hedge funds. This service aligns perfectly with our core clients at Scandinavian Capital Markets, which made it a natural fit. As our motto states, ‘Everything we do is for the trader.’ Currenex’s execution speed, comprehensive order management functionality, and deep liquidity help our clients maximize their opportunities in the Foreign Exchange markets. I especially like its ability to deliver a fast, low-cost solution that provides secure electronic access to the FX markets that helps to reduce risk”, notes Michael Buchbinder, Managing Partner of Scandinavian Capital Markets. 

“We are delighted to be working with Scandinavian Capital Markets, providing them with our high-performance technology to serve their institutional client base. Our private-label solution provides sophisticated access to the FX and precious metals markets, as well as the ability to operate a trading venue without the need for expensive hardware investment, and can be deployed quickly,” said David Newns, Global Head of Currenex and SwapEx.

 

“Kick your trading into high gear and join the rest of the professional traders. Whether you prefer the old school look or the sleek new GUI that includes charting, you will not be disappointed with our new service powered by Currenex. We are excited to build a custom liquidity solution through the platform like an anonymous central counterparty service – FXtradesTM”, concludes Michael Buchbdiner.  

Key highlights of the program include:

  •   Multiple liquidity sources for deep pools with RFQ/RFS execution method providing disclosure across more than 60 banks
  •   Anonymous streaming to thousands of diverse participants and liquidity sources
  •   Competitive pricing across a variety of instruments
  •   Full straight-through-processing (STP) to a treasury management system (TMS) or order management system (OMS)
  •   Reporting with access to complete trade history, audit trail, trade pattern analysis, and counterparty analysis
  •   Permissions security across different locations and business units including segregation of duties, system access control, record retention, and backup/contingency

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