INTL FCStone’s Global Payments Division, a London-based subsidiary will now offer indicative foreign exchange rates, viewable in real-time for more than 140 currencies through its proprietary global payments network.
These indicative rates will be offered via the Global Payments Division’s Rate Feed product. The Rate Feed is designed to enable customers to instantaneously establish an accurate indication of the cost of a cross-border transaction, valuing the transaction or foreign currency holding in various currencies in real-time.
Although it remains a separate product, the Rate Feed is integrated into FXecute – INTL FCStone’s global payments platform – meaning that anyone using the latter can use information from the Rate Feed to inform transactions being executed on the platform.
Carsten Hils, global head of the Global Payments Division, claims that “the offering of indicative rates through our Rate Feed and FXecute platforms further solidifies our industry leadership position” and that it will help clients “to avoid the substantial risks associated with sending funds around the world, particularly in developing world countries”.
He adds: “The Global Payments Division specialises in transferring funds to the developing world, and this would not be possible without the critical intelligence sourced from our trusted global partners. The global payments network provides our clients with all of this information through a single, comprehensive portal that is integrated with FXecute and Rate Feed. We are proud to bring efficiency and security to the payments process through this suite of technology solutions, as well as through our local market relationships around the globe.”