First Derivatives, a provider of software and support services to the financial services industry has signed a contract for Delta RealStream with AFT, one of the leading Japanese online Foreign Exchange (FX) brokers. AFT has selected Delta RealStream, one of First Derivatives FX software solutions to be the platform which AFT will deliver to its institutional and retail clients to trade foreign exchange. AFT will launch its service in the Japanese market under the MarketLink brand.
First Derivatives announced on 15 February 2010 that the Company had acquired the assets, including the entire intellectual property rights of Cognotec. Those intellectual property rights included Delta RealStream. Since the acquisition, First Derivatives has further invested in the development of this product by broadening its functionality, offering the entire platform in Japanese and making it fully compliant with the extensive Japanese regulatory requirements. The signing of this contract represents an important milestone in First Derivatives ambitions to be a major player in the Japanese FX market.
It is estimated that the Japanese market accounts for over 25% of the global retail FX market, says First Derivatives, CEO – Brian Conlon. The contract with AFT gives First Derivatives the necessary platform to grow its share of this lucrative market. It is also a further endorsement of the decision by First Derivatives to acquire Cognotec, including its talented research and development team. This is the first in a number of major deals that we anticipate signing with leading FX brokers.
Delta RealStream is a comprehensive, integrated platform that enables brokers and banks to offer web-trading to their FX customers. It includes a powerful front-end trading suite, with extensive back-end controls to manage credit risk. It also generates and manages pricing by cleansing, blending and distributing rates through predetermined pricing channels. One of the key features of Delta RealStream is its ability to connect users to multiple pools of liquidity. Whilst adopting market standards, the connectivity tools have been optimised to deliver low latency connectivity to major liquidity sources, facilitating flexibility in sourcing liquidity and ensuring best bid/offer execution.
D.C.