HONG KONG, March 7, 2012 /PRNewswire-Asia/ -- Nittan Capital can
now provide electronic FX Options price matching services to
complement their established voice broking business. Banks across
Asia can choose to trade Nittan Capital prices directly on their
screen or by phone to Nittan Capital's FX Options broking
desk.
The new service is underpinned by the ASPone Hybrid Execution
Platform (HEP) system which provides bank dealers with screen-based
capabilities to view and post FX option orders onto the Nittan
Capital price matching system and then to execute trades on-line.
The system complements Nittan Capital's voice-broking
services.
Denis Cheung, Managing Director of Nittan Capital, explained
"Nittan Capital are determined to maintain our position as a
leading broker in Asia and see the extension of electronic price
matching services to our clients as an important way to enhance
their access to our liquidity. Building on our existing
relationship with ASPone we plan to leverage hybrid voice and
screen trading technology to ensure our clients have trade
execution choice and accurate post-trade processing."
The new service means client banks across Asia can enter, hit and
take at-the-money FX option orders for a large number of currency
pairs and also enter orders for more complex FX options which are
made available by the Nittan Capital FX option brokers who then
match them for execution. The brokers also monitor trading activity
and place orders on behalf of clients. Risk reversals will soon be
added to the service.
The system is an implementation of ASPone's Hybrid Execution
Platform which delivers a complete workflow for trading OTC
instruments and integrates with other systems for post-trade
processing, portfolio management, etc. Trade confirmation is
achieved through integration with post-trade services like TRTN
(Thomson Reuters Trade Notification) and MarkitSERV to complete the
workflow for all trades executed on the system.
Patrick McGrath, Chief Executive of ASPone Ltd, said, "Our solution
is a very good match for Nittan Capital. Its modular architecture
and flexibility mean that Nittan Capital can easily extend it onto
other broking desks by adding further asset classes and providing
related functionality to create a single solution which can
ultimately be used by the Nittan Capital brokers in all their
offices and by all their clients."
Nittan Capital is one of the leading brokers in the Asian
inter-dealer market. Its inter-dealer brokerage business involves
providing brokerage services exclusively for commercial and
investment banks to trade a wide array of over-the-counter
financial and derivative products involving foreign exchange, money
markets, interest rates and equity derivative products. Uniquely
focused on key Asian markets, Nittan Capital currently serves over
130 institutional clients, including all leading investment and
commercial banks. Its parent company, Central Tanshi, is the
largest inter-dealer broker in Japan.
ASPone Limited is a privately-owned company which specialises in
the provision of end-to-end financial IT solutions and services to
cover the full trade lifecycle from front-office price discovery to
back-office STP confirmation and beyond. ASPone is committed to
providing financial institutions with innovative, efficient
solutions for their real-time market data and transactional
management requirements, hosting services and software application
development.
For further information contact:
Nittan Capital, Lien Yu, [email protected] /
+852-351-885-25
ASPone, Patrick McGrath, [email protected] /
+44(0)203-036-0502
SOURCE﹛Nittan Capital & ASPone Limited