Wall Street Systems Launches an Internet-based FX Limit Orders Product
The new product has three main functions. It enables a bank’s clients to place and review active orders, monitors market prices on behalf of the bank, and processes the resulting trades. This enables banks to fully automate the entire transaction and grow its order business instead of relying on time-consuming, manual order monitoring processes. Consequently, it reduces risks and costs associated with breaking order limits. Available as part of The Wall Street System® or as a stand-alone product, the Internet limit order module allows a bank’s or broker/dealer’s customer to enter, review and make enquiries about FX limit orders including complex order structures they have placed with the organisation via the Internet. The bank uses the module to monitor its internal rates, which are continually updated in an historical database. The module alerts the bank’s traders to changes in the rate, so the traders can execute the order for the client at the agreed price.