It was just announced today that Swiss bank BCGE (Banque Cantonale de Genève) has partnered with fellow Swiss firm OLFA Trade to provide a new online Forex transaction platform which enables spot, forward and swap trades.
The platform provides access to currency and precious metals markets, offering clients the best price, free of charge via BCGE Netbanking. The platform will be at the disposal of the bank’s 18,000 business clients.
The new product is mainly intended for SMEs and larger companies, particularly those doing business abroad, facilitating their management of online currency operations.
Clients can deal in the main currency pairs and precious metals at a reasonable rate; 14 currencies are on offer, including the franc, euro, dollar, pound and yen, along with gold, silver, platinum and palladium.
ForXchange by BCGE is a personalised, “second level” service; it automatically offers the best price by giving access to market depth and addressing several bidders in line with the size of the transaction; it complements the services offered by the bank’s trading room.
As mentioned in the headline, ForXchange by BCGE was developed in close collaboration with Geneva fintech firm OLFA Trade. It looks like the bank is using OLFA’s institutional trading platform, Seamless FX.