Edgewater Markets has strengthened its presence in Latin America with the opening of a new office in São Paulo, Brazil. Announced on Wednesday, Charles Achoa, onboarded by the company last October, will lead the new office.

Edgewater Markets Opens New Office in São Paulo

The office in São Paulo is an addition to the company’s headquarters in the United States and other offices in the United Kingdom, Singapore, Mexico, and Chile.

The company decided to expand its global footprint with a new office as global demand grows for its FX trading technology and execution services. Additionally, it is going on an extensive recruitment drive.

Moreover, the official press release highlighted that interest in the company’s services is growing in Brazil as financial institutions look to advance their technology. Edgewater is well-positioned for this market with its extensive network of global FX market participants.

“Brazil is a tremendous market for us, and one of the fastest-growing participants in currency trading globally,” Jose-Antonio Buenaño said, the Managing Director and Head of Sales for Americas at Edgewater Markets.

“Edgewater believes strongly in ‘boots on the ground’, where our uniquely experienced FX professionals, armed with unparalleled local knowledge, are closest to the markets, developments, and players. With our significant and growing client base in Brazil, we’re excited to have São Paulo join our offices in Santiago, Mexico City.”

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The Push in the Latin American Markets

Edgewater Markets provides electronic forex workflow management, specializing in FX trade execution and liquidity aggregation. The company’s ambitions for capturing the Latin American markets were clear when it launched EdgeFXLatam to offer streamed price technology for local participants in the region. Furthermore, the forex trading services provided by the company globally include five Latin American currencies, the Chilean peso (CLP), the Mexican peso (MXN), the Brazilian real (BRL), the Colombian peso (COP), and the Peruvian sol (PEN).

Also, the expansion came when the overall volume of assets traded on its platform jumped 90 percent year-over-year. The uptick was primarily driven by a 300 percent increase in activities with non-deliverable forwards (NDFs) and a 35 percent uptick in precious metals.

“We’re excited to be contributing to the growth and development of FX in Latin America, helping domestic markets expand their reach into the global institutional buy-side and sell-side trading communities,” said Edgewater’s Chief Product Officer, Brian Andreyko.

“Around the world, our approach is not to just sell technology but to truly partner with our clients, ultimately increasing revenue per trade and local market share, and expanding relationships in the FX and commodity markets.”