Integral Is The First White Label Trading Systems Provider To Announce NFA Compliance
* Reuters is not responsible for the content in this press release.
* Critical Update Ensures Brokers Are Up-to-date With NFA Requirements Ahead of
Stated Deadline
* FX Power Trader`s Ability to Execute MQL4 Ensures Easy Transition of Expert
Advisors
MOUNTAIN VIEW, Calif.--(Business Wire)--
Integral Development Corporation (www.integral.com) today announced compliance
of FX Power Trader, Integral`s white label retail margin trading solution, with
the National Futures Organization`s (NFA) Rule 2-43. This announcement comes
well ahead of the NFA`s deadline for its first-in, first-out (FIFO) part of the
rule effective July 31. With the addition of an option for non-hedged FIFO
transaction to FX Power Trader, brokers can now choose the appropriate strategy
that best fits their needs and that of their customers.
"Integral is very pleased to state that our clients are in compliance with NFA`s
rule 2-43 without compromising on functionality," said Harpal Sandhu, CEO,
Integral Development Corporation. "We were able to make the necessary
programming changes well ahead of stated NFA deadlines and thanks to our
software-as-a-service delivery model, rolled it out very quickly."
Integral further announced that FX Power Trader now has the functionality to
execute MetaQuotes Language 4 (MQL4). This allows for a seamless integration of
user-generated Expert Advisors ("EAs") that were programmed in MQL4 into FX
Power Trader.
Sandhu added, "We know from talking to our customers that the ability to import
EAs is a key concern when switching trading systems. Our message to MT4 brokers
is that if you are concerned about making the July 31 deadline, but felt stuck
due to your large inventory of Expert Advisors, Integral has put the necessary
changes in place to offer you an easy and immediate transition path."
Compliance Rule 2-43(a) will prohibit a Forex Dealer Member (FDM) from adjusting
executed customer orders, with two exceptions. The first exception is where the
adjustment is done to settle a customer complaint in favor of the customer. The
second exception is where an FDM exclusively operates a "straight-through
processing" model and the liquidity provider with which it entered into the
automatic offsetting position changes the price of an executed order with the
FDM.
New Compliance Rule 2-43(b) requires an FDM to offset positions in a customer
account on a first-in, first-out basis, thereby prohibiting a trading practice
commonly referred to as "hedging." A customer may, however, direct the FDM to
offset same-size transactions even if there are older transactions of a
different size. Rule 2-43(b) is effective for any positions established after
May 15, 2009. Offsetting positions that were established prior to the effective
date do not have to be liquidated, but once either position is closed out after
May 15, it may not be reestablished as a hedge.
End-users who are interested in contacting brokers that are using FX Power
Trader today, please visit http://www.integral.com/products/fx_power_trader.htm
for more information. Brokers who are interested in learning more about
switching to be in compliance, are encouraged to contact Jon Barker, vice
president, global sales, Integral, at jon.barker@integral.com and country code
+44.20.75.31.88.70.
On-Demand FX trading solutions
Integral's flexible solutions and managed service business model supports all
market participants with the solutions they need to conduct FX trading
themselves or deliver branded trading services to their clients. Integral's
private, customer-branded trading solutions are managed and operated over
Integral's FX Grid, a global inter-institutional connectivity and trading
network, linking market making banks and major financial institutions. Integral
solutions include:
FX Inside Professional is the industry's most powerful direct market access
(DMA) trading system. FX Inside Professional combines pricing and aggregation of
FX spot prices, forwards and outrights with algorithmic execution services
giving you maximum liquidity and best execution.
FX Inside White Label private FX trading solutions are managed service trading
systems that allow you to source, package, and deliver your liquidity, directly
to your clients, under your brand. Whether you are a broker, retail aggregator
or bank, Integral White Label solutions allow you to offer complete FX trading
services to your institutional, corporate, professional, and retail clients.
FX Power Trader is a complete white label, retail margin trading solution that
includes strategies, advanced order types, charting, and market news. Deployed
in combination with FX Grid, banks and brokers can aggregate direct market
access liquidity and deliver custom price streams to suit their clients' needs.
Integral's solutions are delivered as software-as-a-service (SaaS) so that FX
trading providers can enter new markets quickly without having to own and
operate any IT infrastructure.
About Integral
Integral develops and operates FX Grid, a global Multi-sided Trading Facility
(MTF) connecting active market participants with all major sources of FX
liquidity. Together with FX Inside, its real-time Execution Management System
(EMS), Integral's products represent the intersection of direct market access
and algorithmic trading in the foreign exchange markets. Founded in 1993,
Integral maintains development, support, and sales offices in Silicon Valley,
Chicago, New York, London, Hong Kong, Tokyo, Singapore and Bangalore. Investors
include Accel Partners, Adams Street Partners, Hudson Ventures, Ignite Group,
Mizuho Capital and Mitsubishi UFJ Capital. For more information, visit
www.integral.com.
Integral Development Corporation
Matthias Beckmann, 650-919-1048
Matthias.Beckmann@Integral.com
Copyright Business Wire 2009
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