Chicago-Based FinTex Launches New Innovation Center, Currency

The Chicago fintech association, FinTex, has launched a new center called 'Currency', which will be dedicated exclusively towards the collaboration, research and sharing of best practices in one of the largest fintech hubs in the world, according to a recent group statement.

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Currency is being launched to help Bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service their clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Met The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service their clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Met Read this Term and aggregate established financial firms, startups, government, regulators, and universities with the fundamental aim of promoting the Chicago fintech community. Chicago has solidified itself as one of the top fintech hubs globally, given a healthy supply of capital, talent, and companies existing in the metropolis.

In addition, Currency will also help identify best practices for big data and other innovative technologies and solutions. Simultaneously with the launch of Currency, the Illinois Department of Financial and Professional Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term also unveiled the launch of its Financial Innovation Initiative, which serves as a broad-based project to push for a pro-innovation, balanced regulatory environment.

According to FinTEx co-founder Jason Henrichs in a statement on the launch: “The diversity of the financial services sector in Chicago sets it apart. We founded FinTEx three years ago to connect members of this community in mutually beneficial ways. The launch of Currency, Chicago’s recent ranking in the top 5 of global fintech centers, and our work with regulators is evidence that great things can be achieved when the entire fintech community works together collaboratively.”

“Our state has a long history of innovation, and this partnership between the State of Illinois and Currency will help us compete with places like San Francisco, London and Singapore. Illinois is sending a global signal that we are supportive of innovative technology and open for business,” explained Illinois Governor Bruce Rauner in an accompanying statement.