Institutional buyside foreign exchange traders can now trade via their mobile devices with a new system tailored to their needs.
Caplin Systems, an e-distribution specialist and vendor of single-dealer platform (SDP) technology, launched Caplin FX Mobile. Built in HTML, the new app enables a bank’s institutional clients to monitor and manage their currency orders via their smartphones and tablets.
According to Caplin, while a major Asian bank is using the system, the new product is being rolled out slowly to financial institutions around the world.
Most banks already recognize the importance of delivering a better customer experience by providing direct e-distribution via a single-dealer platform. But with tablets now outselling desktop PCs, mobile delivery channels are set to become a major factor in customer attraction and retention. Citigroup, the world’s largest FX dealer, recently harnessed Caplin technology to provide advanced mobile trading capabilities through its Velocity iPad and Velocity iPhone offerings.
“With Caplin FX Mobile you can view executed spot, forward and swap trades, and keep an eye on the FX market through custom watch lists and charts,” says Adam Hawley, Caplin’s Director of Managed Services. “We’ve seen a surge in demand for this functionality in all geographies, in particular Asia and LatinAmerica.”
Caplin FX Mobile seamlessly integrates with Caplin’s Direct system, a hosted and managed SDP service announced in December last year, which delivers a fully operational single-dealer platform as a service. Once connected to a trading system, Caplin Direct provides an ‘out of the box,’ FX SDP with advanced capabilities and workflows. This can be styled and branded to precisely match a bank’s corporate livery, and extended with custom features. Now all of this is available in the palm of a trader’s hand on the device of his choice.
And Caplin said it plans to add other asset classes in the near future.
