CitiFX TradeStream and ForexInnovation GmbH Create Synergy for Automated MT4 Solutions

The Germany-based algorithmic trading developer and programmer of MT4 expert advisors (EA’s) and operator of the metatrader-experts.de website, under the name ForexInnovation GmbH - has jointly announced with CitiFX TradeStream, a division of Citibank, of a partnership for institutional MT4 algo-trading solutions within CitiFX Margin Trading accounts. The offering is available to professional clients only, as defined under the U.K.’s Financial Conduct Authority (FCA), and will include along with CitiFX’s other 3rd party-MT4 related solutions, the trading strategies and technical expertise of ForexInnovation – for self-directed and/or managed account holders. CitiFX explains that its TradeStream solution passes on trades on a STP basis, and does not operate dealing desk, and the platform, which uses Gold-i's bridge to connect to CitiFX's trade execution technology, which is available through multiple channels including the CitiFX Velocity GUI, MetaTrader, FXONE, and cTrader, as described on its official website. In addition, TradeStream offers AutoChartist and free VPS hosting, and has most recently been integrated with Deltix, which provides back-testing and algorithmic strategy tools, as covered by Forex Magnates last month.

The addition of ForexInnovations services to the growing list of synergies that CitiFX has with the above mentioned Independent Service Providers (ISPs) provides clients with greater choices to select from. The company operates as a tied agent, based on the German Banking Act, under the liability of Hanseatische Portfoliomanagement GmbH (HPM) based in Hamburg, according to a description in the press release. ForexInnovation CEO and founder, Thomas Rosenkranz, said in the press release,“The technical setup of CitiFX TradeStream with MT4 provide an unprecedented and powerful combination for our algorithmic trading.” Mr. Rosenkranz added, “Access to excellent Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term provided by CitiFX TradeStream gives us the extra edge for consistent automated trading and offers a quick and reliable integration of our software through the MT4 platform.” In addition, ForexInnovation co-founder, Alexander Klingelhoefer said, “We have been trading with Citi for a long time and have compared and tested the CitiFX TradeStream - MT4 solution extensively.In terms of trading conditions such as execution speed, latency and spreads as well as the professionalism of a trading relationship with a top-tier bank, we have found an ideal set-up for our algorithmic trading that is matched by the safety and security that a Citi relationship offers to our customers.”

Commenting in the joint announcement, Sasha Serebrinsky, Manager of Citi’s FX Margin Business in EMEA explained, “ForexInnovation’s focus on development of algorithmic trading solutions required a strong partner who could offer reliable liquidity through an institutional low-latency MT4 set-up with the additional requirement of having a direct counterparty relationship with a leading bank. We are pleased that we have been able to meet ForexInnovation’s needs and help them grow their business by providing them with the set-up they and their clients having been looking for.” Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates' reporters met with Sanjay Madgavkar, Global Head at FX Prime Services At Citibank, who visited our head office last month, the full interview of which was subsequently detailed for our readers to review.