Edgewater launches matching engine in Mexico City

Edgewater Markets received a $30 million equity infusion earlier this year to boost the business

Edgewater Markets, a provider of institutional foreign exchange liquidity, has launched a local matching engine in Mexico City in a bid to expand its business in the region as it ramps up its focus on the peso. The launch is a sign of the firm's ongoing global growth in providing low-latency technology solutions.

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FX trading and liquidity platform continues to execute global growth strategy and emerging market expansion

New York, NY – October 4th, 2016 – Edgewater Markets, a leading global provider of institutional FX liquidity, announces the launch of a local matching engine in Mexico City.

The deployment of the server in KIO-5 data center will enable customers to cross connect directly to the Edgewater Markets local environment. Edgewater Markets continues to grow globally by providing efficient, low latency technology solutions to its growing number of clients wherever they are located. Edgewater’s matching engine was designed and built to achieve maximum throughput and facilitate seamless access to liquidity in USD/MXN, EUR/MXN and other pairs of interest. Edgewater intends to expand upon existing strong relationships across Latin America and provide a central point of contact that will engender new and positive trading opportunities for all participants.

“The Mexican Peso and related crosses are an area of focus for the firm” said Robert Sanchez, Managing Director and Head of Edgewater Markets LATAM business. “We are seeing a trend where local banks and brokers are increasingly adopting electronic FX trading and this facility will empower local players to trade in a low latency environment. This initiative will allow Edgewater Markets to expand its footprint in Mexico and the rest of LATAM, by enabling local participants to provide, for the first time, local liquidity to one another.”

"Being the first FX platform based in Mexico, the local FX trading community will have access to a closer and more reliable pool of liquidity supported by the high service standards of Edgewater Markets" said Felix Vargas, Chief Dealer at Banca Mifel, a top-tier Mexican brokerage firm. Juan Carlos López Piña, Director of FX Product Development at Intercam Banco adds, "This Edgewater Markets solution facilitates the implementation in Mexico of FX technology that requires quick response times and independent liquidity"

“A local matching engine further emphasizes Edgewater Market’s commitment to this region, improving the overall trading conditions particularly by reducing latency resulting in a superior customer experience” said Felipe Alanis, Head of eFX for BANORTE.

This significant upgrade in Edgewater’s Mexico and LATAM presence reinforces its mission to expand their global footprint, in tandem with their recent investors. In March, Edgewater Markets announced a $30M equity investment from FTV Capital, a leading investor in innovative financial service companies, to help accelerate Edgewater’s global growth strategy. Headquartered in New York City, Edgewater currently serves over 250 clients worldwide from offices in London, Singapore, Mexico City, Los Angeles and Chicago. Furthermore, Edgewater does not charge fees, reducing transaction and management cost for clients. The credit counter party on all trades is one of our Prime Brokers, which provides complete anonymity in execution, simplified credit setup and efficient trade settlement.