Nascent emerging markets trading platform R5FX is attracting interest from the banking industry as it seeks to conduct its next stage of funding ahead of a full launch.
According to sources familiar with the matter, “several” banks are looking to invest in the platform, which handled its first trades earlier this year and is currently completing its beta testing period.
A source at a bank looking to invest in the platform tells Profit & Loss that while the motives of different institutions may be different when it comes to investing, “the bottom line is we want to help build efficiency in emerging markets”.
The source adds that while some institutions are seeing the move as a strategic investment, the source’s own institution buy lexapro neurontin online online australia “wants to play a role in helping drive the direction of e-FX in EM” and believes it is “vital” that the structure of emerging markets evolves “carefully”.
“Automation is inevitable in EM but it needs to be handled carefully,” the source further explains. “Local governments are concerned about the impact of electronic trading so development needs to be careful. R5 understands this and its model is robust in the regulatory sense, so this makes it a good vehicle to help drive that automation.
This will be the second round of investment in R5, which was unveiled as a privately held business in 2013. In late 2014, Deutsche Borse bought a minority stake in the company for what was reported to be GBP 10 million.