Currenex UK Limited has received regulatory approval from the Securities and Futures Authority (SFA) to conduct its business operations in the UK.
The company is a subsidiary of Currenex Inc, a provider of an online, multi-bank, global currency exchange open to institutional buyers and sellers world wide.
Currenex UK, which received approval on June 26, is now authorised to conduct business in the 18 countries of the European Economic Area. These are: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, Liechtenstein, Netherlands, Norway, Portugal, Spain, Sweden, and the United Kingdom.
Its Internet-based service, FXtrades, links banks, corporate treasury departments, institutional funds/asset managers, government agencies, international organisations and central banks to a real-time FX marketplace. It is a total trading solution from initiation and execution to settlement and reporting.