Gain Capital has launched a managed account programme to complement its Internet-based foreign exchange trading service. Gain has also added more currency pairs, as well as currency options to its platform.
Glenn Stevens, GainCapital’s head of sales and trading, will be responsible for developing and implementing trading strategies and managing the traders who direct managed account activity. “The managed accounts programme is a natural extension of our business and allows Gain to accommodate both types of investors,” says Stevens.
“Self-directed investors enjoy direct access to the currency markets via Gain’s Internet-based trading platform,” he adds, “and now, those investors who prefer to have their risk capital managed by market experts or who are unable to watch the currency markets 24-hours a day can participate in the managed account programme.”
Gain’s senior traders will assume day-to-day responsibility for clients’ funds in the managed account programme. The programme requires a minimum amount of $25,000 to participate.
Meanwhile, Gain has added two additional currency pairs to its stable of G7 currencies – the Canadian and Australian dollars – bringing to 20 the total number of currency pairs on offer. Gain launched on 31 May with dollar/ yen, euro/dollar, sterling/dollar and dollar/Swiss franc, and the crosses.
“Almost everyone wanted to trade the euro crosses, which makes sense given the euro’s decline over the past several months vis à vis the other major currencies. Australian and Canadian dollar were the other most popular responses, so we added them as well,” says Stevens.
Gain is currently developing a currency options trading module, due for launch in Q1. In the meantime, it has begun offering a telephone-based service for currency options trading.
Gain Capital offers institutional and individual investors direct access to 24-hour, commission-free FX trading, based on interbank spreads. The service provides anonymous, one-click dealing from live, two-way quotes and claims one-second execution and confirmation.
The system also provides real time P&L, order entry and tracking, as well as back office functionality with STO capabilities, including deal history, margin analysis and overnight position management. It also provides a number of decision support tools, including real time streaming news from market News International, charting, a real time ticker, comparative interbank rate feed and intra-day market commentary provided by the trading team.