NEWS
TopFX announces service expansion
G
lobal sub-prime brokerage service provider, TopFX Ltd, have announced an expansion of their services, now offering complete broker solutions which incorporate a comprehensive and tailored suite of services and tools for starting FX brokerages.
Gabriel Styllas, CEO of TopFX, explained, “We have renegotiated current contracts with a number of liquidity providers which has resulted in a tightening of spreads across all currency and commodity instruments. At TopFX, we practice a strict fair-pricing policy, meaning the tighter spreads and all other benefits we provide are available within a non-restrictive plan with no minimum volumes, no minimum deposits, and no setup fees.” Tere has also been a significant enlargement of TopFX’s current list of supported currency pairs, expanding to include almost all tradable currency pairs.
Gabriel Styllas
FTSE Curex FX Index series launched
F
TSE and Cürex Group have announced their worldwide partnership and the launch of the FTSE Cürex FX Index Series, a new range of independently calculated, 24/5 streaming, executable spot FX benchmark FIX for currency pairs and currency baskets. Te FTSE Cürex FX Index Series provides the next generation of FX valuation and performance benchmarking for global capital markets. By establishing real-time Bid and Offer spot FX indices on 192 currency pairs (FTSE Cürex FIX), from multiple independent contributors and at multiple depths of liquidity, global capital markets
18 | july 2012 e-FOREX
Absa Capital’s PACE FX introduces trade in CNH
A
bsa Capital has recently introduced trade in Chinese Renminbi (CNH) to PACE FX, its electronic FX trading platform. Te introduction
of the market for offshore CNH, deliverable in Hong Kong, has been an important development for Chinese currency market participants. CNH market volumes have risen steadily since its inception in July 2010 and the CNH provides more options for hedging and risk management.
“China is an increasingly important trading partner for South Africa and this development offers local clients full risk management capabilities for their Chinese exposure,” says Stephen van Coller, Chief Executive of Absa Capital. Other emerging market currencies that are now offered are the Tai Baht (THB) and Saudi Arabian Riyal (SAR).
Stephen van Coller
benefit from improved clarity when viewing previously opaque foreign exchange pricing.
Mark Makepeace, Chief Executive of FTSE Group, said: “FX is the World’s largest capital market and currency exposure affects investors in all asset classes. Tis new series of FX indices will be used by our clients world-wide as a better benchmark for managing currency risk and performance, and will support a wide range of passively managed FX currency funds and strategies.”
Mark Makepeace
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