FXALL LAUNCHES CROSS-CURRENCY NETTING

Posted February 9, 2009

LONDON – Electronic foreign exchange platform FXall has launched Cross-Currency Netting, a new feature that enables market participants to better manage high value multi-currency exposures. FXall’s users include asset managers, corporate treasurers, hedge funds and banks.

“FXall is committed to providing a fair and independent trading environment for all market participants and we’re pleased to announce the most comprehensive offering in this space,” says Phil Weisberg, Chief Executive Officer of FXall. “As an established and committed long-term partner, we are constantly investing in our leading platform to establish new products to best serve the needs of our clients. Cross-Currency Netting is one such initiative, to allow our clients to execute trades in the most efficient and cost-effective way best suited to their sophisticated trading strategies.”

Cross-Currency Netting identifies principal risks within a currency portfolio so they can be efficiently transferred to the user’s chosen bank or custodian with details automatically processed by FXall’s workflow and STP capabilities. Users can also consult with their bank or custodian to determine an optimal trading strategy in fully automated fashion with a complete audit trail.