TraderTools Introduces LightFX(TM) Pricing and Aggregation Service
By Tradertools Inc., PRNESunday, April 17, 2011
TraderTools to partner with Citi's Prime Finance to offer a revolutionary new, hosted service to FX traders worldwide
NEW YORK, April 18, 2011 - TraderTools Inc. (TraderTools), which provides the only complete,
integrated FX trading platform available on the market, announced today that
it has partnered with Citi's Prime Finance to offer LightFX, the world's
first and only fully-disclosed, relationship-based FX pricing and aggregation
service. The prime-based, hosted service is expected to be launched by
mid-second quarter 2011.
(Logo: photos.prnewswire.com/prnh/20110406/NY78371LOGO )
The new TraderTools service will provide a more cost-effective
alternative to traditional ECNs, which execute FX trades anonymously and
charge both liquidity providers and takers. With LightFX, liquidity takers
will receive relationship pricing at significantly reduced upfront and
operational cost, while liquidity providers benefit from being able to
provide a fully-transparent service where they can differentiate themselves
from their competition. Also, since liquidity providers will not be charged
for the service, more are expected to join LightFX, enabling the service to
provide more liquidity at more competitive pricing.
"We are very honored to be a partner in LightFX. It is a truly unique
offering that works well for all participants," said Andrew Coyne, Managing
Director, Head of FX Prime and G10 eCommerce at Citi.
"The market is demanding fully-disclosed, relationship-based pricing -
and we're listening," stated Yaacov Heidingsfeld, CEO of TraderTools.
"Partnering with Citi brings us a premier prime broker with full STP and
messaging functionality, quick time-to-market and vast experience in
fast-changing regulatory environments."
About Citi's Prime Finance
Citi's Prime Finance is a comprehensive, integrated business unit
comprised of prime brokerage, financing solutions and capital introductions -
supported by cutting edge technology and advanced reporting. By combining our
multi-broker, multi-strategy capabilities with our global reach, we are
ideally positioned to help our clients anticipate and address the
complexities of strategic investment. By leveraging and enhancing Citi's
corporate strengths in over 100 markets globally, Prime Finance now serves
clients in more than 70 countries - delivering 24-hour coverage through
experienced industry professionals.
About TraderTools
TraderTools Inc. delivers the only complete, integrated, FX trading
platform available on the market. Banks and brokerages use the TraderTools
platform to increase FX revenues, reduce FX costs, improve FX spreads and
access vital information to help run their FX businesses more efficiently and
effectively.
FX desks traditionally deploy an assortment of vertical tools, developed
internally or externally by different vendors. TraderTools replaces these
disparate products with a single innovative platform that addresses the 4
most pressing FX challenges: an FX pricing engine, FX liquidity aggregation,
global FX order management and FX white-labelling. It is an end-to-end
solution designed to work seamlessly across all components and provide
unparalleled visibility into the entire FX workflow. The result is an
optimized FX Liquidity Management Platform(TM) - with advanced capabilities,
like algorithmic FX trading and FX auto-hedging - designed to generate
profits.
The TraderTools FX trading platform is the product of more than a
decade's worth of experience with some of the world's largest financial
institutions.
TraderTools, Liquidity Management Platform, LightFX and the tagline "The
eFXperts" are trademarks of TraderTools Inc.
Contact information: Sales: Mark Mayerfeld, EVP, International Sales Tel: +1-212-782-3550 E-mail: mark@tradertools.com Media: Ian Tick, Director, Marketing Tel: +972-9-740-8880 E-mail: ian@tradertools.com
.
Tags: April 18, New York, TraderTools Inc.