NEW YORK, May 24, 2011 /PRNewswire/ -- FXDD, a leader in online Forex trading, today announced three new product offerings to its line of advanced solutions for institutional traders. The new products include Forex options, non-deliverable forwards (NDFs) and trading in Chinese Yuan (CNH) cleared in Hong Kong. These innovative offerings will expand FXDD's services and allow institutions, including hedge funds, fund managers, commodity pool operators (CPOs) and select banks to diversify their portfolio exposure and manage their risk.
"All three products were developed in response to demand from our institutional customers and further solidify FXDD's place as a technological leader in the foreign exchange industry," says Lubomir Kaneti, Chief Operating Officer at FXDD. "In the future, we'd like to be able to offer these products to our retail clients, subject to regulations and other concerns."
FOREX options: FXDD joined forces with Forex software provider FX Bridge to launch the foreign exchange options platform FXDDOptions. The trading platform offers vanilla options with streaming pricing from multiple banks and additional strategies are available on a request-for-quote basis. FXDD offers options pricing from top-tier liquidity providers with over 20 currency pairs, creating a business-to-business solution for companies interested in trading options or offering options to their retail clients.
Non-deliverable forwards (NDFs): NDFs allow traders to manage their risk and to gain exposure in emerging markets where a currency is either non-deliverable or where national regulations prevent the use of the forward foreign exchange market to manage foreign exchange risk. FXDD will offer the following NDFs: Malaysian Ringgit, South Korean Won, Chinese Yuan, Taiwan Dollar, Indian Rupee, Indonesian Rupiah, Russian Ruble, Brazilian Real, Columbian Peso, Peruvian Nuevo Sol, Argentine Peso, Chilean Peso, and the Philippine Peso.
Chinese Yuan (CNH) contracts: Chinese Yuan (CNY) is not a fully convertible currency and therefore, market participants cannot trade the USD/CNY pair on the spot market. Recognizing this limitation, CNH was introduced as a proxy for CNY in July 2010 and FXDD is proud to be among the first to offer trading in the currency. CNH is a deliverable currency in Hong Kong and is cleared with its own liquidity and pricing without restrictions. CNH will broaden the reach for global companies to manage their asset and liability exposure to CNY. The rapid development of a CNH Bond market has added depth of liquidity and broadened the base of counter parties.
FXDD (www.fxdd.com), a Foreign Exchange Dealer registered with the CFTC and a member of the National Futures Association, is headquartered in New York City's 7 World Trade Center. FXDD is a leader in online Forex trading dedicated to providing superior customer service, powerful trading technology, and reliable streaming liquidity. FXDD provides services to individual and institutional traders, hedge funds, commercial entities, brokerage firms and money managers around the world. FXDD offers 24-hour Forex trading by way of its trading platforms, which include: MetaTrader, FXDDTrader, PowerTrader and FXDDAuto. The Company's services currently provide competitive interbank pricing, no-interest accounts, and fully-automated execution. FXDD also provides 50:1 leverage in the US, as well as competitive bid-to-ask spreads.