ICBC Standard joined BidFX as the newest liquidity provider on the platform.
Roger Lee, BidFX’s head of EMEA sales, says: “As the latest BIS survey on FX indicates, currencies of emerging market economies (EMEs) are gaining market share, reaching 25% of overall global turnover. To that extent, it has become increasingly evident that electronic provision of EM liquidity, both deliverable and non-deliverable (NDF), has become a must.
“With that in mind, having the addition of a ‘frontiers pairs’ FX specialist such as ICBC Standard will be valued by the BidFX client base. We therefore welcome ICBC Standard as the latest provider on BidFX,” he adds.
Simon Goldberg, director corporate and banks sales at ICBC Standard, adds: “We look forward to partnering with the BidFX team to distribute our emerging market liquidity. BidFX is a natural partner in the space given its client base. Its strategy fits well with our regional focus on Africa and frontier Asia markets, in which we have a substantial network due to our unique shareholding structure. ICBC Standard Bank is able to offer competitive and complementary products where most major banks are not active.”