INTL FCStone Ltd's Global Payments Division Introduces FXePrice - Web-Based Platform for Instant FX Trading
NEW YORK and
With FXePrice, correspondent banks will be able to feed the Company with local currency live prices electronically. The Company will have the capability to execute a large number of transactions instantaneously with multiple counterparties. Traditionally, FX price discovery in the developing world has occurred manually via phone, email or messaging. FXePrice automates this process and facilitates instant electronic price discovery via both streaming and request-for-quote (RFQ) functionality, which significantly reduces the time and cost of execution, as well as errors associated with manual processes. Critically, the platform allows banks on the Company's network to submit prices even during off-market hours for certain currencies, maximizing their abilities to capture flows by showing overnight interest and participate in the global marketplace.
FXePrice users can stream foreign exchange prices through the web-based platform, which reduces latency and ensures efficiency by integrating with counterparties' straight-through-processing (STP) systems. All prices posted on the platform, including after-hours prices, are executable and verifiable. The accurate pricing provided through the portal is especially valuable for the currencies used in the developing world, for which traditional methods of price discovery lack transparency and are often unreliable."
About
INTL FCStone Ltd ("IFL") is a wholly owned subsidiary of INTL FCStone Inc. ("INTL"). IFL is registered in England and Wales (5616586). IFL is authorised & regulated by the Financial Conduct Authority [FRN 446717]. INTL acts as Agent for IFL in New York. INTL Asia Pte Ltd acts as agent for IFL in Singapore.
A Fortune 500 company with a nearly 100-year track record, the company focuses on providing products and services within the commodities, securities, foreign exchange and global payments sectors. INTL customers include the producers, processors and end users of virtually every major traded commodity; commercial counter parties; and governmental, nongovernmental and charitable organizations. The company also serves institutional investors, brokers, professional traders, CTA/CPOs, proprietary trading groups, commercial banks and major investment banks. The company is listed on the Nasdaq under the ticker symbol "INTL."
Further information on INTL FCStone is available at www.intlfcstone.com.
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