LONDON - Online trading company Alpari plans to add HSBC, Royal Bank of Scotland, Dresdner Kleinwort, Currenex and EBS as liquidity providers on its platform by March, according to a senior official at the company.
The liquidity providers add to the existing list, which includes Deutsche Bank, Citi, JP Morgan, Barclays Capital, UBS and Lava, through its foreign exchange prime broker Deutsche Bank.
Andrey Vedikhin, London-based chief executive at Alpari (UK) said that, by March, retail and institutional clients will be able to trade directly on bank and electronic communications network liquidity through MetaTrader4 using new in-house developed straight-through processing technology. This will cut execution times from 100 milliseconds to between 17 to 20 milliseconds, he said.
Currently, trades below $5 million in nominal value are executed automatically while a dealing desk handles trades over that size.
The developments are part of rapid expansion plans that this year see the launch of offices in India, Japan, Canada, British Columbia, Brazil and Singapore. These add to a presence in the UK, US and the United Arab Emirates, and a representative office in Shanghai.
Since launching in 1998 with $12,000, Alpari has grown to generate turnover of $60.1 billion in October last year.
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