Edgewater Adds GCC Currencies
Posted by Colin Lambert. Last updated: August 14, 2023
Edgewater Markets says it has launched services to support FX trading in Gulf Cooperation Council (GCC) currencies, namely, Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.
Additionally, the firm has added services for Egypt, and says it is onboarding liquidity providers from local markets and says the move means firms in the region no longer have to exclusively rely upon “outdated and error-prone workflows”.
“This development marks a major shift in how foreign exchange trading is conducted in the GCC and surrounding region,” claims Brian Andreyko, chief product officer at Edgewater Markets. “At Edgewater, our technology enables us not only to support 24×5 forex trading via GUI, but also to act as a credit intermediary for our clients, connecting them directly with local banks and ensuring they get the best rates available.
“By extending our technology and credit intermediation services into this growing region, we further enhance our ability to deliver tailored solutions that meet our clients’ specific needs,” he adds.