Trading since 1997, foreign exchange trading platform provider, Fortex Technologies has announced on Thursday, October 31, 2019, that it has extended its crypto services. In particular, the platform will now be offering crypto non-deliverable forwards (NDFs) with a focus on institutions, reports Finance Magnates.
As for what NDFs are and how they work, it is a type of futures contract in which the difference between the contracted NDF price and the principal spot price is settled. This is typically used in not only foreign exchange markets but also that of commodities.
For the time being, institutional investors will have a go at the NDFs simply to help increase liquidity and trade sizes. That said, alongside NDFs, there’s an institution-focused platform that will also be launched. Some of the services that said players will have access to include end-to-end solutions for price discovery, liquidity aggregation, OEMs, and risk management among others describe the news outlet.
The Head of Institutional FX at Fortex, Jason Young has since expounded on the benefits that arise from using Fortex’s system altogether.
Here’s as per his words:
“1) is complete flexible, modular, and scalable, 2) is multi-asset and 3) has been continually improved upon for over 20 years.”
Mentioning on the differences between fiat and cryptocurrencies, Young reasoned that Fortex’s technology and overall experience in trading is what allowed them to smoothly integrate cryptocurrencies to their profile.
This article is Originally posted on CoinCentral.com
Author: Nirmala Velupillai