Currenex

Currenex FOREX platform

Founded in 1999, Currenex is an independent online FOREX trading platform providing a number of services to clients and brokers. Its primary function is to connect buyers and sellers through its innovative patented programs. Currenex was the first online service to offer its clients live streaming executable rates and integrated benchmark trading. Investors interested in using the service must first find a Currenex broker who will act on their behalf and has experience with the Currenex platform; this adds to the cost of FOREX trading through Currenex, but many investors find the additional benefits provided by the Currenex FOREX service to be worth the additional cost.

Currenex trading

Currenex FX services allow investors to perform a full range of FOREX trades and options. Typically, investors engage the services of a Currenex broker, since access to the service can be expensive on an individual basis. Currenex partners with established brokers like Morgan Stanley and J. P. Morgan to provide state-of-the-art FOREX services to clients; these services include order management tools that allow investors to monitor their trades from start to finish, a high degree of customization of orders, and the ability to average spot deals. The Currenex system offers Straight Through Processing, allowing investors to conduct their trades solely through the electronic medium provided by Currenex. Currenex FX tools include executable streaming prices, benchmark trading, algorithmic trading, and all other prime brokerage functions through its patented software platform, allowing traders near instantaneous responses for their FX transactions. Currenex holds several patents for processes that lower the latency of trades and improve the speed and execution of those trades; these advanced technologies have helped to make Currenex the leading FOREX exchange on the market today.

Currenex acquisition

Currenex was acquired in 2007 by State Street, one of the premier providers of institutional financial services. State Street paid $564 million for the acquisition; Currenex is still based in New York, with its engineering operations located in Redwood City, California.