just now
September 21, 2021 - B2B multi-asset liquidity and clearing broker Finalto, the financial division of Playtech PLC, a FTSE 250 listed company, has announced today the launch of its NDF offering, which, the company says slots seamlessly into any of their client's existing infrastructure.
This provision of NDF liquidity is currently fairly unique amongst institutional brokers / Prime of Primes and the fact that the pricing can slot into the existing infrastructure of margin trading platforms could generate a lot of interest for the firm.
NDF trades will be available in the below currencies initially with more to follow:
• Indian rupee
• Indonesian rupiah
• Korean won
• Brazilian real
Rupee, rupiah and won trading will be available 22 hours a day. Brazilian real will follow Brazilian exchange trading hours.
Today's announcement states that the company's solution is solving the complexities that trading NDFs have traditionally posed, such as:
• NDF month settling time scales - retail brokers may need to pay out client PNL the next day
• Having to deal with fixing dates which don’t occur in FX spot transactions
• Needing to deal with the forward risk stemming from differences in the way retail systems work against NDFs
Finalto's solution now enables clients from small hedge funds to money managers and everyone in between to have fundamental exposure to NDF currency markets without concerns of fixing dates and settlement risk.
Andrew Biggs, Finalto Head of Liquidity, says, “The complexities of NDFs have caused large parts of the retail market to miss out on trading opportunities. We’ve abstracted some of those complexities to allow seamless integration into existing systems and offerings. Let us take away the hassle so you can focus on trading.”
