R5FX, the emerging marketplace for local market FX trading, today announced the launch of Indian Rupee trading on its platform. Live trading is now available in Indian Rupee (INR), Brazilian Real (BRL), Chilean Peso (CLP) and Colombian Peso (COP).
“Launching Indian Rupee during Diwali marks the next phase of our roll-out, as we continue to improve liquidity and add more emerging market currencies to the R5FX marketplace”, said Jon Vollemaere, CEO of R5FX. “During 2015 we have delivered a platform that significantly increases efficiency in emerging market trading, with four currencies now live. Moving forward, we will continue to innovate and launch additional currencies, to deliver on our promise of a world-class dedicated emerging market platform. Our immediate next step is to build Indian Rupee liquidity during the London day. Namaste R5FX Rupee.”
Indian Rupee trading is available on both InterBank and OpenMarkets liquidity pools. InterBank is designed for bank traders only, whilst OpenMarkets is open to all institutional FX traders, from banks and non-banks.
R5 OpenMarket (R5OM) is a non-bank, electronic marketplace providing a faster, more efficient, regulatory alternative for anyone wanting to trade FX in the New World. This is necessary because upcoming regulation requires EM traders to drastically change their current channels for the BRICS, N-11 and other Emerging Market/NDF currency pairs.
The R5OM marketplace:
- is a dedicated, purpose built marketplace, with an innovative model to normalize credit exposure and provide wider access to new participants
- allows corporates to trade on “YOUR” rate rather than crossing the spread. This allows for greater transparency on the “Real” market reference rate centralized in R5. They claim to offer greater electronic efficiency for price creation and hedging needs while reducing transactional and market data costs
- centralizes unique and diverse sources of liquidity. R5 is designed in true partnership with market professionals and gives participants the chance to hit the best price, at the right time for the right amount
- offers a low cost, electronic liquidity pool, which is clear, compliant, and counterparty specific. Where the issues of Credit, Clearing, Regulation, Liquidity and Control are all dealt with from your point of view.
R5FX future development
R5FX, a London FinTech start-up, is expected to stimulate growth in the trading of emerging market currencies, as the market migrates from being largely voice and exchange traded, to a transparent and efficient screen-based market, providing deeper liquidity and increased capacity for all.
- This item appears in the following sections:
- FX Management & Crypto
- Buying & Selling FX
- Cash & Liquidity Management in Asia-Pacific
- Cash & Liquidity Management in Latin America
- Cash & Liquidity Management in Middle East & Africa
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