Online platform to ease currency trading

American Currency and commodity trader has automated its foreign exchange trading platform FXePrice bringing greater transparency and streaming local currency rates.

INTL FCStone automated the current manual process of FX price discovery in emerging markets to facilitate instant electronic price discovery leveraging on the size of it's global network of  350 correspondent banks.

The FXePrice platform currently has 52 users in 17 institutions trading in 12 different exotic currencies on a 24-hour basis.

FXePrice enables correspondent banks to feed local currency live prices electronically to INTL FCStone's Global Payments Division, allowing users to stream foreign exchange prices, ensuring efficiency by integrating with counterparties' straight-through-processing systems.

Chief Dealer, Bank of Africa Uganda, Murielle Magayane said the platform was very easy to use and reliable.