Geneva based ACM Advanced Currency Markets part of the REFCO group of companies will be releasing a new JAVA technology based online currency dealing platform.
The new release is a totally new software offering that will complement ACM's spot foreign exchange execution service and existing popular FLASH platform.
Nicholas Bang executive director & partner of ACM says, "Our original FLASH based platform enjoyed great success because of a variety of reasons one of them being due to the fact that no downloading is needed to establish and operate the software. The new JAVA based platform has numerous advantages over our original FLASH software. Although the JAVA based software is not fully web based it has multiple other advantages. Firstly it offers increased stability and is substantially lighter in terms of memory usage once it has been downloaded and installed. Additionally it provides added functionalities like new order types, namely if done, if done OCO and trailing stop orders which were previously unavailable. Additionally users have the possibility to select precisely which open position they wish to liquidate. Both platforms will benefit from the same trading conditions and indeed with 2 pip spreads from this week onwards".
The launch is set to take place the week of the 04th of April and is an important step in ACM's overall strategy. Nicholas Bang comments, "The new JAVA based platform is part of a long term strategy to attract white label institutional customers. Last year REFCO acquired a majority stake in our company. The deal was crucial to our institutional strategy as it cemented our reputation and gave us the financial backing and credibility we needed to go after the institutional market in the first place. Now with the release of our JAVA software we are ready to finally go full scale on our white label offering to banks and brokers. ACM has already acquired banking customers but we feel that our JAVA software is better suited for such a market as it is fully compliant with the highest banking technologies and will make interfacing and managing white label ventures substantially more efficient".
Although the new JAVA platform will be used primarily for white labeling we will make it available to all customers.
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© Press Release 2005
