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Live, streaming, executable bids and offers are available for instant execution on our trading platform. Spot prices (in your chosen currency pairs) are displayed and refreshed in real-time, and users can trade multiple order types including Market, Limit, Stop, Reserves (Iceberg & Hidden), and Pegged with different expiry conditions. Client-defined bank lists allow clients to direct their requests to multiple counterparties simultaneously. Furthermore, Currenex lets users split and roll trades across multiple accounts and dates with the ability to place orders.
Recent ESP™ Order Enhancements
Advanced Orders include conditional orders, execution algorithms and pegged orders. They are unique in that the order is managed by an advanced order service that will act as an intermediary between the trader and the market. This service will act as a holding place for orders that aren’t yet marketable, such as legs of If Done or If Done OCO orders. The service will also manage the rate changes necessary to keep pegged orders at the appropriate market rate.
a. Stop Triggers
b. Stop Limit Orders
a. Conditional Order – If Done Orders
b. Conditional Order – One Cancels Other (OCO)
c. If Done OCO
a. Pegged Order - Offsets
b. Pegged Order - Discretion.
c. Pegged Order - At-Or-Better.
d. Pegged Order - Protected Peg.
a. TWAP Fixed Time
b. TWAP Fixed Slice
c. Floating Passive
d. Floating Aggressive
e. TWAP Randomized
f. TWAP Randomized Market Participation
a. Partial Fill
b. Minimum Amounts
Net & Roll Enhancement
A new interface allows customers to net multiple spot trades of a single currency pair and value date down to a single exposure, and then roll this position forward utilizing a Swap RFS trade. The near leg of the swap will offset the original trade(s). The Swap RFS can be submitted to the original bank or to a group of banks if the customer is in a multi-bank environment. By utilizing Net & Roll, customers can receive competitive rates for their roll transactions.
The VWAP feature provides enhanced quote information for the New York, London and Tokyo markets. VWAP is the Volume Weighted Average Price and is calculated as a 5 minute rolling average. It is found to the right of the big figure. VWAP also provides the open, high, low and close for the top ten currency pairs. The opening and closing is the VWAP at 8:00 AM and 5:00 PM local time, respectively, for each market.
Staged Orders is a new order upload and order management system for clients who require specific risk controls in their FX trading platform. Order staging creates separate and independent roles. A “Submitter” has the ability to upload Staged Orders (parent) to the Currenex platform but does not have the ability to submit orders to the Currenex marketplace for execution. A “Trader” can select a Staged Order to ‘work’ and then create a Trading Order (child) for execution. A Trader cannot upload Staged Orders, and trading privileges are restricted to entering only Trading Orders linked to previously submitted Staged Orders.
- Rapid, simple integration with dealing and back-office systems
- Automated prime broker give-up and credit monitoring
- Resting limit orders filled automatically
- Straight Through Processing
- White Label trading solutions
- Fully ASP supported - upgrades and enhancements provided automatically
- Customisable User Interface: resize/hide individual components of the service.
- Trades Monitor: organise, locate and act on trades and orders at various stages of the trading lifecycle.
- Messages Monitor: alerts users to changes in the status of orders and pending actions, allowing you to quickly take the appropriate action to complete a trade.
- Templates and Drafts: One-click display enables you to monitor the market and send trade requests; set alarms to notify you when specified currency pairs reach user-defined levels.
- Instant trading and execution
- 24-hour, liquid market and tight spreads
- Intuitive, flexible user interface; detachable, live snapshot of liquidity
- Trade Status Area - to view order placement and execution notification offers unprecedented visual access to the status of pending deals, done deals, and resting orders; gives users the ability to rapidly modify or cancel individual active orders, and complete partial fills.
- Advanced Market Depth choices for ESP™ - Standard (set in preferences), Consolidated (aggregated price and amount available), and VWAP (volume weighted average price).
- Credit Limit button - displays the users credit limit(s) and how much has been used. The button itself will also change color to alert users as credit limits are approached or exceeded.
- User defined One-Click trading buttons
- Enhanced Daily Spot Positions Tab now shows currency pairs by base AND term amounts; average price of all Spot buys and sells (separately and by currency pair); net position (total long and short position by currency pair) and all in rate - the all in cost average for spot transactions, including realised and unrealised P/L in the Currenex trading day (17.00 EST to 17.00 EST).
- Excel based spreadsheet trading allows the ability to have live streaming executable prices and make real-time automated trading decisions.
- Access to prime broker network
- Trade Templates and Drafts offer enhanced user customisation - buy-side users can easily recall pre-defined fields for frequently repeated trades.
Price Makers and Intermediaries:
- Prices in any currency pair delivered according to your specifications
- Flexible, real-time rates streaming - single stream to multiple customers, customized streams to individual customers
- Live update of average price, net position and all in rate of day's Spot trades (ESP™, RFS, direct and Benchmark); copy and paste data into spreadsheets
- Incremental, profitable order flow opportunities
- A cost effective, strategic alternative to 1-to-1 eFX systems