Currenex Launches CX SmartOrder™ Algorithmic Trading Platform
 May 9, 2006 – NEW YORK – Currenex, Inc. has introduced CX SmartOrder™, an FX trading platform that allows traders to leverage algorithmic trading models, manage orders, and reduce market impact. This stand-alone platform runs on a trader’s own computer and includes standard trading models as well as a secure environment for Tick by Tick processing of a client’s custom algorithms. The platform aggregates liquidity from diverse sources and displays it in an easy to use format.
CX SmartOrder™ offers the trader complete control over trading models and tactics, with the flexibility to revise strategies swiftly and implement new trading models on the fly. The system aggregates liquidity pools and allows traders to intelligently route orders for lowest cost execution factoring both market rate and execution costs. Order routing technologies ensures optimal order execution with minimal market impact.
 “This platform is another important addition to our portfolio of trading technologies that better serves our users,” added Clifford M. Lewis, CEO and Chairman of Currenex. “We expect traders to utilize this secure platform to execute their own proprietary algorithmic models as well as built-in models.”
CX SmartOrder™ integrates a scripting library with pre-defined algorithmic trading models that can automatically generate the timing and size of orders based on user defined parameters and constraints. The algorithmic models are written in industry-standard Microsoft VB Script. Scripts can be added, edited and kept private because the platform runs locally on Windows XP on the customer’s own computer.
Clicking on a currency pair’s BID or OFFER cues the model selector where algorithms can be executed. For instance, large orders can be automatically carved into smaller orders by clicking on a currency pair and selecting the Order Slicer model.
Mr. Lewis added, “Unlike our order staging application which is designed primarily to control operational risks, this system executes orders based on the dynamic market conditions and rules-based models which are easily tailored to every customer.”
CX SmartOrder™ includes popular algorithmic models including the Order Slicer, Pegged Orders, Trailing Stops, Synthetic Crosses, Smart Market Order, Smart Limit Order, and Smart Stop Orders. Additionally, user-defined models may be added and managed under this same Model Selector Menu.
About Currenex
Currenex®, Inc. is the leading technology provider of foreign exchange Spot, Forward, and Swaps trading solutions for global financial institutions, funds, corporations, banks and other market participants. Offering Executable Streaming Prices (ESP™), Request For Streams (RFS), Benchmark Trading, Algorithmic Trading, and complete Prime Brokerage functionality with fully integrated Straight Through Processing (STP), Currenex connects more than 60 global banks to a superior electronic trading network, making Currenex one of the deepest liquidity pools in Forex. Accessed through a global electronic communications network, Currenex patented technology is also available to users in privately-branded solutions. Additional information can be found at www.currenex.com.
Authorised and Regulated by the Financial Services Authority | Currenex (UK) Limited, 71 Kingsway, London WC2B 6ST, UK.
Registered in England No. 3882136.
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