FlexTrade Systems, a leader in multi-asset algorithmic execution management systems, today introduced its latest technological innovation, MilanFX, the industryâs first block FX trading platform for buy-side and sell-side institutions, including hedge funds, commodity trading advisers, money managers and banks.
âThe incredible growth of electronic FX has pushed the envelope to create faster and fairer trading pathways,â said Vijay Kedia, president and CEO of Flextrade Systems Inc.â While more than 40 percent of FX is traded electronically, a large portion of it is still conducted over the phone â especially for large block size amounts. Itâs because of this environment that many of our clients have expressed the need for a FX platform that allows for trading block size amounts; hence, MilanFX was born.â
The name Milan, arising from the Celtic phrase âin the middle of the plainâ, was chosen for the platform because it captures the spirit inherent in its design â creating a level playing field and helping institutions trade FX at the midpoint.
With MilanFX, traders can:
Â· Execute large block FX trades on a truly anonymous platform
Â· Join a diverse community of large FX buy- and sell-side firms
Â· Trade without market impact or leakage
Â· Access trading mechanisms to eliminate gaming and predatorial flow
Â· Have full STP functionality to their Prime Broker
In addition, MilanFX is a âSPOT-onlyâ trading platform available via the Web, FIX API, or through FlexTradeâs own FlexFX algorithmic trading system.