Finenz takes world leadership position in financial systems software with stake in ForexSignal.com
Significant merger between these Singapore and USA-based companies will enable both to leverage complementary capabilities, penetrate new markets geographically, and service a larger client base.
Singapore & San Juan Capistrano, CA, USA – Singapore-based Finenz Pte Ltd, a financial systems’ software company specializing in developing, hosting and maintaining automatic trading systems for financial institutions, has joined forces with US-based ForexSignal, a leading provider of forex trading signals with clients in over 40 countries.
“It is an important step in Finenz’s planned progression from being a signal provider to a trade execution company,” said Charles Villeneuve, founder of Finenz Pte Ltd. The synergistic merger will enable both companies to leverage complementary capabilities, penetrate new markets geographically, and service a larger client base.
The two companies will combine their portfolio of forex trading signal tools and leverage respective market presence to expand their geographic presence and service a significantly larger audience base. Following the merger, the companies plan to create an even more sophisticated system that will include a selection of short term, medium term and long term position trade signals in a multitude of languages that can be broadcast worldwide with the option of being traded 100% by computers directly in the client’s account with selected brokers.
“We are very excited to be partnering with ForexSignal,” said Villeneuve. “Their expertise in pushing out forex trading signals to a large user base of retail traders, particularly in North America, is a great addition to our capabilities. At the same time, we believe our strong presence in Asia and our proven systematic trading platform used by many of the large banking and financial institutions in the region adds tremendous value to the combined entity.”
Commenting on the merger, Bernard Lewis, President of ForexSignal said: “This merger is a natural fit that joins two of the leading forex signal service providers, resulting in increased intraday trading opportunities for our respective clientele. It will also bring together our exceptional development teams, aggregating the best of financial engineering and software engineering. This will help us develop and fine-tune algorithms to generate and facilitate trading decisions and market indicators. In our industry, money cannot buy know-how and experts are rare because it is relatively new and the exceptional combination of our respective teams is just what we needed to become a world leader in this space.”
Expect further acquisition announcements: “Acquiring a stake in ForexSignal is one of the many strategic partnerships we are lining up to scale our operations and expand into new markets,” said Villeneuve.
About Finenz (http://www.finenz.com)
Finenz Pte Ltd , a software company specializing in financial systems, is a pioneer in systematic trading platforms that take the ‘emotion out of trading’. Finenz develops and maintains forex trading systems for banks, brokers and financial institutions. The company’s Finenz Gateway is a complete trading system solution comprising FxMove, the company’s flagship movement analytics application; Cash & Go, a cash management application; Risk Management, a risk management application; and FxTradex, a forex trade executor application. Finenz offers a complete and flexible trading solution, simple to integrate with any existing brokerage or banking environment.
Besides Finenz (Pte) Ltd in Singapore, the Finenz Group of companies includes Finenz SMBA, Denmark, Finenz SA, Labuan and PT. Finenz Indonesia. For more details on Finenz and its core financial software applications, visit www.finenz.com and www.fxmove.com.
About ForexSignal.com (http://www.forexsignal.com)
Founded in 1998, ForexSignal.com is a powerful web-based forex signal platform providing real-time forex trade signals through the website or on mobile phones. Used by clients in over 40 countries, ForexSignal.com works with any web browser on a PC or a mobile phone and is fully compatible with over 700 mobile networks in 200 countries. The system alerts subscribers to trading opportunities in real-time via text messages to mobile phones or e-mails with notifications on entry, stop and take/profit prices.
For more details, visit www.forexsignal.com
Media Contact:
Charles Villeneuve – Founder
E-mail: Charles@finenz.com
Tel No: +65 8511 4605
Rachel Phua – PR
E-mail: Rachel@finenz.com
Tel No: +65 8511 4605
Philip Patterson
Tel No: 949-542-3500
Email: phil@forexsignal.com
It is important that the adoption of common currencies is encouraged mainly because of the two reasons of the increased number of countries and the journey towards globalization. As the world is fast evolving, mutual understanding and synchronization of business cycles are extremely important for cross-border transactions and thus it has been long understood that the lesser the number of currencies, then more easily the transactions can take place on the global level. There is a great need for integrating the monetary and financial needs of the Asian countries and to achieve the goal of a common currency in all the Asian regions, but there is grave uncertainty regarding this venture and the first query is whether if it is even possible or not.
http://finenz.com | Asian countries have to focus on various matters before concentrating on bringing about a single currency. First of all, they need to bring about a fine incorporation of goods and services in the regional markets and also have to work towards adequate labor and market integration and finally, they should also focus on making sure that there is a mutual association of the economic structures and the economic development in the concerning participating countries. On the monetary side, the Asian countries also need to understand that they have to let go of their independent monetary policies and have to understand the requirement for a single regional authority. However, there are many hurdles to be crossed before the Asian nations think about starting a common currency for the continent. Firstly, the preconditions which were found in Europe which led to the emergence of euro as the single currency of the region is either absent or is in its preliminary stages in the Asian nations.
So in all, it can be concluded that there is still much time required to establish a common Asian currency in the continent of Asia, which can only take place when the monetary, fiscal and regional hurdles of the Asian countries have been solved.
The largest market in the financial sector can be referred to as the Global Foreign Exchange Market, although it does not have any physical presence. This market has been created for the trading of all the foreign currencies across the world and is globally decentralized. Various financial centers have been established all around the globe and buyers and sellers can trade in their respective foreign currencies with these centers. They are not operational on weekends and it is the global forex market which determines the approximate value of the various foreign currencies with respect to each other.
As we know this market has no physical presence, yet there is grave importance attributed to the global foreign exchange market and it is regarded as the final authority of foreign currency conversion. International trade and investment is the foremost function of this market and it allows businesses to carry out transactions in several foreign currencies and allows the eventual conversion thereof. The basis of foreign currency trade and conversion can be clearly illustrated by the example of a US business which would like to import goods from the United Kingdom and for this particular transaction; it would have to pay for the items in Pound Sterling. In all, the true sense of the foreign exchange transaction means that one of the parties purchases a particular currency by using a said quantity of another currency. The global foreign exchange market has its own unique features and qualities which are the vast trading volumes, its worldwide availability, 24/5 hours a week, and various others.
The Bank of International Settlements has advocated that the daily turnover on an average which occurs through the various transactions of the global forex market is close to or even exceeds four trillion dollars and this report was issued in April 2007. The traders which are involved in the global foreign exchange market are some of the largest banks of the world, currency banks, corporations, currency speculators, governments and various other kinds of financial situations. This brief overview of the global forex market truly represents that this is the most liquid financial market which exists throughout the globe and its largeness is much more beyond the huge numbers of billions and trillions.
Buying and selling which occurs between various foreign currencies is referred to as Forex which is actually the short form for Foreign Exchange. The market which deals with this kind of conversions and trading is referred to as the Foreign Exchange market or the ‘Spot FX’ Market. The usual course of transactions which occurs in Forex trading is that the currencies of different nations are traded against each other and thus the trading occurs only in currency pairs. Most of the Forex trading occurs with the US Dollars and chief combination’s in the trading category are the Euro-Dollar (EUR/USD), Pound-Dollar (GBP/USD), Yen to Dollar (JPY/USD) and the Swiss Franc-Dollar (USD/CHF).
There are a large number of investors who trade forex on a daily basis and the FX market is operational on all the five days of a week except on Saturdays and Sundays. Speculation is the basis on which 95% of the Forex trading operations are carried on. The rest of the 5% of trading operations which is missing from the equation are actually performed by companies who have sold their products and services in foreign nations and thus they convert back the foreign currency received into their home currency. The governments in the nations all around the globe also take part in the Forex trading for similar purposes. The uniqueness of the Forex market is that individual investors can also trade in the same with the help of web portals like CMC Forex. Demo accounts are also offered by certain forex brokers so that individual investors learn the tricks and trade of the trading business and they can do so without losing their money.
Investors need to carefully analyze the factors which influence the value of the currencies. Various political and social factors together make a major effect in the value of the currency and these are mainly concerned with the government rule, inflation and recession and depending on the type of the reason, the consequences on the value of the currency must be for a brief period or might continue for a long time.
