Press Release
Principia Partners forms alliance with FXall to provide integrated solution for front-to-back office FX trading
Principia Partners extends straight-through-processing (STP)
for the foreign exchange market
Jersey City, New Jersey, June 13, 2001 – Principia Partners LLC, a
leading provider of full front-to-back office systems for global capital
markets, today announced an alliance with FXall, the electronic trading
platform for foreign exchange. This alliance combines the strengths of both
companies’ solutions to deliver a fully functional FX corporate portal,
which enables Principia’s clients to trade currencies 24 hours a day
via a single point of access, for research, analysis, trading, execution
and all their processing needs.
The new alliance draws on the strengths of the Principia Analytical System (PAS) which can now provide the infrastructure for a ‘one stop’ solution from input through to execution and processing, saving time and lowering costs for both clients and FX dealers. Traditionally, currency dealers depended on phone-based dealing and updated positions manually. The alliance also gives FXall’s liquidity providers access to a larger pool of clients leading to greater transparency and liquidity.
Alex Stevenson, director of eCommerce services, Principia Partners states: “Our aim is to make life easier for our clients with a simple solution for FX trading. We want to provide an Internet solution, which eliminates manual trading and enables straight through processing. This will reduce the time for investment decisions, offer a full solution, and minimize operational risk.”
Philip Weisberg, CEO, FXall, states: “We are delighted to be working with one of the major players in the market for front-to-back office processing. We are impressed with the sophisticated and powerful way PAS delivers all the functionality for FX trading. FXall together with the PAS system will provide the market with a common protocol for front-office execution and back-office functionality. Our relationship with Principia Partners further endorses the reality of FXall and the opportunities it creates.”
Theresa Adams, one of Principia’s founding partners, states: “Principia Partners has always been committed to designing and developing systems for today’s fast-moving trading environment. This alliance highlights our determination together to meet the changing needs of our customers. Our mutual goal is to provide a sophisticated system capable of handling all complex foreign exchange transactions for our growing customer base, providing them with a vital competitive edge.”
About FXall
FXall is an electronic trading platform offering customers foreign currency trade execution, access to research, and straight through processing. With an increasing number of leading global banks providing liquidity, FXall is designed to aid corporate treasurers, money managers, hedge funds, central banks, and other institutional clients. FXall will allow customers to:
- Trade on competitive prices supplied by participating FX Liquidity Providers.
- Access a range of services including FX spot, forward, swap, option and portfolio trades
- Capture the efficiencies of straight-through processing
- View research, forecasts, and Web sites of partner firms
- Follow the latest market news and quotes
- Chat with Liquidity Providers online
About Principia Partners
Founded by a group of finance and technology professionals, Principia Partners offers a fully integrated front to back office solution for management of financial assets, liabilities and derivatives. The Principia Analytic System covers fixed-income (including ABS/MBS), FX and equity index products. The sub-ledger facilitates full compliance with FAS 133, IAS 39 and FAS52 accounting regulations. Principia’s target market is composed of end-users, dealers, fund managers and other entities that require sophisticated processing capability without the desire or resources to develop internal systems. For more information about Principia, see www.principiapartners.com.
Principia Partners is headquartered at the Harborside Financial Center, Jersey City, New Jersey, USA.
For press information contact:
Shamira Alidina
Write Image
271 Regent Street
London W1B 2BP
shamira@write-image.co.uk
Tel: + 44 (0) 20 7959 5450
Fax: + 44 (0) 20 7493 5499
Email: shamira@write-image.co.uk