Kooltra has launched a new platform, called FXCore, which designed to fast-track the entry of new broker participants into the FX market.
In a release issued today Kooltra, which provides an integrated back and middle office SaaS system for institutional customers, says the platform will advance back office technology for FX trading which, it says, has evolved little despite the continued growth in global volumes.
Kooltra’s FXCore solution aims to eliminate the financial burdens of implementing and maintaining traditional infrastructure by offering cloud-based data storage. The technology can integrate with multiple trading platforms and liquidity providers and scale to accommodate growing trade volumes.
Adam Katz, CEO and founder at Kooltra, comments: “For years, innovation in capital markets has focused on the front end while post-trade operations have been largely ignored. Brokers are handcuffed into multi-year, multi-million dollar contracts for systems that can take two years to stand up. Our mission at Kooltra is to fix this problem with a ‘plug-and-play’ back office system that lets our customers start running their FX businesses in a few weeks.”
Andy Herriot, CEO at Monsas, an investment management and financial solutions firm, adds: “Kooltra has changed the FX space dramatically. We were able to go live very quickly with a competitive solution and have been thoroughly impressed with Kooltra’s level of service.”
Wei Zhang, CEO at ATFX, a forex brokerage, says: “We were referred to Kooltra after looking for a solution to get us in the institutional market quickly. So far we’ve been very impressed with Kooltra’s team and product; we’re actually ahead of schedule with a solution tailored to our business.”