WDX Organisation has endorsed technology company 4th Story as its software provider for the Wocu automated trading platform (WTP), a tailorable solution for quoting and trading WDX’s Wocu World Currency Unit.
The WTP is designed to decrease the time to market for banks, hedge funds and corporate treasurers interested in and seeking to trade the Wocu. The company says it is targeted at banks and market makers looking to quote the Wocu from their own dealable component currency pair prices, external prices, or a combination of the two.
“With interest growing in the Wocu as an effective tool for managing currency exposure volatility, we felt it important to ease its adoption by the FX community by encouraging the provision of a third party, ‘out of the box’ integrated solution,” says Michael King, managing director of WDX.
The WTP includes an engine for quoting Wocu currency pairs with individually configurable parameters to suit the needs of various market participants. It includes a market making and trading server to service Wocu orders by working their underlying component legs using customisable algorithms and logic.