This basically means that any 'Currenex broker' - like Alpari and ODL/FXCM - can now almost seamlessly offer Mirror Trading to its clients without the hassle of customized integration with Tradency. As Currenex is a platform with a single API/interface once integration has been done for one client it has been then done for all others as well. This will allow Tradency to tap into the massive Currenex WL brokers network which it couldn't tap into as easily before the integration was complete, and this would also allow broker clients to execute their orders on the Currenex platform (ECN) and not directly with the brokers.
June 21, 2011 -- Tradency BVI, developer of the industry-leading foreign exchange Trading Platform Mirror Trader, has announced an alliance with Currenex, a wholly owned subsidiary of State Street Corporation, to make Tradency’s Mirror Trader available to all Currenex clients without additional development costs.
Mirror trading is a rapidly growing trend in the retail Forex industry, and Tradency offers a robust technology platform that appeals to organizations like Currenex, which represents individuals and institutional investors on both the buy and sell sides of the market place.
The new alliance between Tradency and Currenex allows smooth and effortless integration of Tradency’s Mirror Trader to Currenex’s client offerings. With Mirror Trader, traders can choose “automatic,” “semi-automatic,” or “manual” modes to execute trades in real time, conveniently in the client’s brokerage account.
The “Semi Automatic Mirroring” feature is being added to the platform in June 2011. This feature will enable users to view signals sent by strategy developers and execute selected strategies based on their own analysis and account goals.
“We are thrilled to provide Currenex clients with access to our Mirror Trader platform. Currenex clients include some of the largest banks in the world, as well as the major players in the foreign exchange market. This type of sophisticated clientele understands the value of the mirror trading concept, which allows them to use the knowledge of a wide range of strategy developers for their own trading,” says Lior Nabat, president and CEO of Tradency.
According to Nabat, Currenex clients will find it easy to achieve proficiency in using Mirror Trader. Practice accounts allow traders to test strategies' and signals against market conditions to see how they perform.
“We are confident that Currenex clients will find Mirror Trader to be an excellent addition to their offerings and success,” Nabat said.
Currenex e-trading venue has been recognized as one of the best by FX Week for its commitment to technologically superior trading systems. The addition of Mirror Trader continues this trend toward continuous improvement, says Nabat.
Over the last several months, Tradency has experienced phenomenal growth in its Mirror Trader platform through strategic partnerships and alliances with major trading venues that find value in the mirror trading strategy and Mirror Trader’s cutting edge technology.
For more information on Tradency and Mirror Trader, visit www.tradency.com
About Tradency
Tradency BVI. is a financial technology provider of innovative trading solutions. The Mirror Trader, Tradency’s advanced trading platform, introduces traders to new trading techniques, including Semi Mirroring and Automatic Mirroring. The Mirror Trader offers traders a comprehensive trading workspace, with variety of popular trading tools as well as unique features and personalized options. Tradency’s Platform offers traders a flexible choice of combining its groundbreaking approach with traditional online trading methods. Since its inception in 2005, Tradency has pioneered this new method, creating a new category of platform trading. Tradency continues to innovate its technology, reinforcing its reputation as the creator of cutting-edge industry practice. www.tradency.com
About Currenex
Currenex has provided the electronic foreign exchange buy and sell side communities with research and execution tools for more than a decade. State Street Corporation, one of the world’s leading providers of financial services to institutional investors, acquired Currenex in 2007 to further expand its expertise in the electronic foreign exchange trading market beyond traditional asset managers to active currency managers and hedge funds. The Currenex platform has received several international awards for its innovative technology platform. www.currenex.com
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