Questrade Selects Spectrum System for FX Trade Processing
Questrade has selected Financial Software Systems’ (FSS) Spectrum System as its front, middle and back office solution for foreign exchange (FX). Questrade offers direct access trading in the US and Canadian stock and options markets in addition to its FX trading. Questrade required a trade management system which could support its rapid growth in the FX retail markets. In order to streamline the implementation process, Questrade also chose to use Spectrum’s hosted delivery solution.
Questrade will use Spectrum for position and risk management and complete back office processing of FX transactions. Spectrum’s margin trading module provides real-time collateral and credit monitoring, position revaluation and calculations of margin requirements. Questrade will further facilitate its growth with corporate clients via Spectrum’s client FX dealing and FX payments portals.
Praneil Ladwa, project operations manager for Questrade, said: “FSS has a proven solution for broker-dealers in the FX markets which is unmatched in the market. The Spectrum System will give us the tools to manage our credit exposure and offer additional value-added services to new and existing clients via the Spectrum Client Portals. Utilising the experienced professional services team and the FSS hosting facility, we expect to roll out Spectrum in a very aggressive timeline.”