Currenex Launches Streaming Gold and Silver Trading
NEW YORK – August 21, 2006 – Currenex, the leading liquidity aggregator in the foreign exchange market, today announced their support for Gold and Silver trading. Customers can now access gold and silver market prices and submit orders using the Currenex GUI, FIX Protocol, or their Java trading APIs. Additionally, Currenex has added STP support for precious metals though their post trade feeds and network of partner prime brokers. Customers can now trade Gold and Silver against the USD, EUR and JPY. Man Singapore, servicing a broad spectrum of investors throughout Asia, executed the first precious metal trade on XAU/USD.
“The streaming prices function no differently than the other currency pairs offered on Currenex,” commented Tarun Tandon, Sr. Vice President, Head of FX & Bullion at Man Financial Singapore. “The deal executed quickly and settled as expected. It was effortless and we expect more of our customers to begin trading precious metals in this way.”
Precious metals pairs trade in standard lot sizes of 100oz for gold and 5,000oz for silver, allowing traders to easily hedge their spot exposure in the futures market. Gold Spot is shown as XAU/USD, XAU/EUR and XAU/JPY, while silver Spot is shown as XAG/USD, XAG/EUR and XAG/JPY.
“The demand in the markets for precious metals, especially gold, continues on a strong upward momentum,” added Clifford M. Lewis, CEO and Chairman of Currenex. “We have responded to this trend by aggregating liquidity into live, streaming executable bids and offers for instant execution. Our technology allows for the inclusion of new commodities at our customer’s request.”
About Currenex
Currenex®, Inc. received the 2006 e-FX award for “Best Trading Technology Vendor.” 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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