press release

release detail

13th November, 2009, London:  FX Capital Group (www.fxcapitalgroup.co.uk) launched an online currency and payments platform which will fundamentally change the landscape of deliverable foreign exchange and international payments.

Leveraging the best technology and a deep understanding of both international foreign exchange and payments markets, FX Capital Group brings transparency, simplicity and automation to meet the foreign exchange needs of clients in a robust, easy and effective manner.

FX Capital Group Logo

FX Capital Group's vision is to combine technology with competitive and transparent pricing to deliver on the promise of simple, cost effective, and customer friendly foreign exchange and international payments services for its clients.

Transacting foreign exchange and making international payments should be easy;  clients shouldn't need to become foreign exchange experts or traders just to avoid being taken advantage of by their brokers.  FX Capital Group is unique in providing clients total pricing transparency:  each time they trade, all clients are shown the (time-stamped interbank) market rate and the corresponding rate at which they will trade. 

Fully transparent, fully audit-able, fully automatic - no need to waste time and energy negotiating every trade, no excessively high minimum trade sizes. Just competitive quotes and simple, effective settlement and transaction management.

With FX Capital Group's online platform, corporates, trust/fund administrators and equity brokers have access to fully automated and integrated facilities to buy and sell currency and make online payments.  Initially, customers can access spot rates for 20 major currencies, with forward rates out to 12 months being added by the end of 2009.

Other currency or introducing brokers can also take advantage of the FX Capital Group platform via a white label implementation, allowing them to focus on client management and acquisition, while taking advantage of FX Capital Group's robust and scaleable platform for liquidity and settlements and back office.  If desired, white label trades can also be routed to a broker's existing or preferred liquidity provider.

Nigel Verdon, CEO and founder, comments “for our clients, the online platform is a perfect complement to our existing phone based service. Customers have a simple and secure environment to manage their currency risk and make payments, and still enjoy the benefit of our transparent pricing policy.”

The first customer to trade on the platform, Paul Pacifico, founder and manager of of The All Stars Collective stated “I couldn’t believe how simple it was to make a trade and setup the onward payment, it only took a few seconds - it’s the iTunes of FX”

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For further information, please contact:

Nigel Verdon, CEO, on +44(0)203 326 8170 / nigel@fxcapitalgroup.co.uk

Follow fxcapitalgroup on Twitter

Notes to Editors:

About FX Capital Group (www.fxcapitalgroup.co.uk)
FX Capital Group is a deliverable Foreign Exchange and International Payments business that provides phone based and online services for buying/selling currency, hedging currency risk and making international payments.  The online services are available via a browser or an API.

The vision of FX Capital Group is to use technology, price transparency and aggressive pricing to disrupt, and provide transparency to, an over-brokered and overly-manual market.  FX Capital Group is the first broker to be 100% transparent with prices to clients (showing market price and client price with a clear trade time-stamp).

To deliver this vision, a highly experienced team and investor base has been assembled, with relevant experience across investment banking, capital markets, trading technology and deliverable foreign exchange brokerage.

The firm has developed (and owns the intellectual property for) a highly scaleable deliverable foreign exchange and international payments platform.  The platform is white-label capable and is the strategic platform for building the business.

FX Capital Group operates two brands:

FX Capital Group (www.fxcapitalgroup.co.uk) - targeted at corporate clients
RabbitFX (www.rabbitfx.com)    - targeted at Private clients

FX Capital Group’s target client base are SME corporates, multi-currency merchant web sites, und/trust administrators and equity brokers.

RabbitFX’s target client base is private individuals who are buying / selling overseas assets; making or redeeming overseas investments; receiving salary in a foreign currency; and making regular payments abroad (e.g. mortgages, bills, sending money home).

FX Capital Securities ltd. (FX Capital Group and RabbitFX are trading names of FX Capital Securities Ltd.) is registered with the Financial Services Authority under the Payment Services Regulations 2009 (Reg. No. 504222) for the provision of payment services.

FX Capital Group is a privately held company and is backed by City of London Group (www.cityoflondongroup.com) and Nauiokas Park LLP (www.nauiokaspark.com).