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Forex.com - The First Broker To Offer Currency Contracts on ICDX

Nov 26 2012
By
Forexbrokerz.com

At the end of Q3, Forex.com published some interesting metrics: while the retail forex business had not increased dramatically, the company reported a growth of 93% in its institutional business. Apparently, Gain Capital – the company behind the Forex.com brand – has shifted its focus from retail to institutional customers – and the its agreement with the Indonesia Commodity and Derivatives Exchange (ICDX) only comes to prove that. 

 
The ICDX is Indonesia's largest futures exchange and recently it became the first one to receive regulatory approval from COFTRA (Indonesia's Commodity Futures Trading Regulatory Agency) to offer currency products. The exchange is planning to launch 27 currency contracts in the first quarter of 2013.
 
With the newly signed agreement between ICDX and Gain Capital, the latter will provide liquidity services for ICDX's currency contracts through the GTX platform. GTX will connect its current global institutional liquidity network to ICDX  and this way ICDX's clients will be getting an easy access to price discovery, trade execution and algorithmic trading
 
“This partnership is unique in that allows ICDX to offer deep liquidity in these new currency products from day one, while also providing them with a secure and scalable platform that supports high trading volumes with ultra-low latency matching and post trade capabilities,” said Glenn Stevens, CEO of GAIN Capital. “In addition, existing users of our GTX platform will benefit significantly from their ability to access the unique liquidity that partnering with an established international exchange provides.”
 
“ICDX is committed to creating a robust venue for exchange-traded currency products in Indonesia, and our partnership with GTX accelerates our time to market tremendously,” added Megain Widjaja, ICDX's CEO. “GTX offers a turn-key, highly flexible technical solution that provides us an efficient means to access liquidity and allows us to support the trading activity of Indonesian institutions and investors who wish to access this important asset class.”
 
 

About GAIN GTX, LLC.

 
GAIN GTX, LLC is a wholly owned subsidiary of GAIN Capital Holdings, Inc. GTX offers highly innovative, next generation FX electronic communications network (ECN) technology for price discovery, manual/auto trade execution and post trade management. The GTX marketplace boasts a deep and diverse liquidity pool, including some of the largest banking institutions in the world, as well as high frequency traders, hedge funds, and high net worth individuals. For further information, visit www.gaingtx.com.
 
 

About GAIN Capital

 
GAIN Capital Holdings, Inc. (NYSE: GCAP) is a global provider of online trading services. GAIN’s innovative trading technology provides market access and highly automated trade execution services across multiple asset classes, including Over the Counter (OTC) forex and contracts for difference (CFDs) as well as exchange-traded products, to a diverse client base of retail and institutional investors.
 
GAIN Capital operates FOREX.com, providing retail traders around the world with access to a variety of global OTC financial markets, including forex, precious metals and CFDs on commodities and indices. GAIN’s other businesses include GTX, a fully independent FX ECN for hedge funds and institutions, OEC, an innovative online futures broker, GAIN Securities, Inc. (member FINRA/SIPC) a licensed U.S. broker-dealer.
 
GAIN Capital and its affiliates have offices in New York City; Chicago; Bedminster, New Jersey; London; Sydney; Hong Kong; Tokyo; Singapore; Beijing and Seoul.
TAGS: Gain Capital  Forex.com  institutional forex  forex trading volumes  retail forex  Indonesia  ICDX  COFTRA  Gain GTX 

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