ICAP has announced a major drive to provide electronic FX trading in the New Zealand dollar around the globe. ICAP is introducing the kiwi dollar (NZD) to the EBS electronic spot FX trading platform as a tradable currency against the US dollar so traders can view the NZD tradable pair along with the other major dollar, euro and yen currency pairs, and precious metals, on the same screen.
“We’ve been working closely with kiwi dollar traders in Wellington to help meet their needs for additional trading opportunities,” says Darryl Hooker, emerging markets and precious metals manager, ICAP Electronic Broking.
“They told us they need access to the electronic global book on one dealing screen and to price, depth and liquidity and trading in the G7 currencies. Our position as the global provider for the major traded currencies, particularly the US dollar, euro and yen pairs, make us an obvious choice for these traders.”
“The inclusion of the New Zealand dollar into the EBS trading platform further recognises the maturity of the New Zealand capital markets and the increased focus of the global investor community on the New Zealand dollar,” adds John Body, Head of Markets, ANZ Wellington.
“This platform will further enhance liquidity, benefiting both local importers and exporters and broadening the pool of global investors active in the New Zealand dollar.”