FXPRIMUS Announces Blockchain Trade Verifier to Boost Transparency

Clients of FXPRIMUS will get access to a new tool that the company states will ensure bring a new level of trust and transparency in the relationship between customers and financial intermediaries. The brokerage’s partnership with trade.io will grant clients the opportunity to deliver a new platform-integrated app for monitoring trade Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term.

The company is yet to release the full details about the tool and its technical aspects. In the age of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term news quickly gathering traction, the announcement is sure to attract interest from traders. As the old adage goes - the devil is in the details.

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FXPRIMUS will deliver to its customer base access to the Blockchain Trade Verifier (BTV). The app is integrated into MT4 and allows for a semi-decentralized application that verifies trade data. The company states that the app is linked to a blockchain to provide proof to customers that their trades are tamper-free.

The management team of the brokerage shares that the new addition to the company’s offering will become available over the coming weeks. Until the app is officially launched, some clients of FXPRIMUS have been invited for a trial of the platform.

The only information that clients share on the blockchain are their order numbers along with the execution details. Personal data will not be available on the ledger.

Commenting on the news, the CEO and Executive Director of FXPRIMUS, Costas Kappai, said: “We have been working for quite some time now to harness the industry’s best technologies for the purpose of creating an even more secure and trusted trading environment.”