"The online FX trading market is growing at a rapid pace", said Simon Yencken, NextSet CEO, "and NextSet is pleased to offer full online FX functionality in its powerful and proven multi-asset PTX trading application."
NextSet PTX allows financial institutions to offer bi-lateral, web-based trading to their institutional and corporate clients. NextSet's PTX supports multiple asset classes (including Cash, Money Markets, Repo, Fixed Income, and Foreign Exchange) on the same platform. It also supports channel interfaces, via APIs, to popular FX trading exchange systems, allowing Banks to reach clients in the public and private markets.
Mr. Yencken went on to say, "due to the discontinuation of Reuters' Automated Dealing system, many Banks will be forced to re-integrate a new eFX trading solution. Why not install a proven, Java-based, multi-asset system that can easily trade FX, FI, Cash, MM, and other products and integrate readily to the bankâs various back-and mid-office systems?" The advantages are lower maintenance and integration efforts, consolidated views of clientâs activities & positions, common administration features across all products, and a single web-based trading interface for clients.
The PTX-FX module supports:
- Spot, Forwards, Time Options, & Swaps
- One-Way and Two-Way pricing
- Different Order Types and Negotiation
- Pre-deliveries, & Historical Rate Rollovers
- Flexible margining
- Unlimited number of Currency Pairs
- Integration with multiple real-time rate feeds
- Interfaces to 3rd party FX exchange systems via APIs (e.g., FXall, Currenex)
- STP to Bankâs back- and mid-office systems
- White labeling of FX products to correspondents and other financial institutions
NextSet is a private company headquartered in Palo Alto, California. NextSet maintains a development center in Chennai, India and has a regional office serving the Asia Pacific in Melbourne, Australia.