A Year of Sweeping Growth: How Edgewater Is Leading the Pack in FX Globalization

Powerful FX trading tools. Market-specific knowledge. Exceptional client service. A worldwide footprint. At Edgewater, we have used this unique combination of offerings to earn the trust of 350+ clients over the past decade. Our flagship electronic trading system, the highly modular and customizable EdgeFX, has helped institutions worldwide to optimize their trading strategies, reduce operational risk and automate workflows – all through a single platform. Meanwhile, our team of highly specialized local market professionals is armed with unparalleled knowledge to empower local banks to trade efficiently and competitively across global markets.

2023 has been a particularly busy and rewarding year for Edgewater. We remain laser-focused on our mission to bring FX innovation to markets the world over – but what, exactly, does that look like? Let’s recap a few recent company developments – spanning the Middle East, Latin America, Europe and Asia – that illustrate how our groundbreaking technology and industry-leading team unlock endless opportunities for our clients.

Leveling the Playing Field: Delivering Efficiencies to Emerging Markets

We often tout our local market expertise and our network of relationships extending across nearly every global region. These are a result of maintaining highly experienced sales, support and development teams who live on the ground and share an unwavering dedication to helping local FX players fight for every inch of market share.

In recent years, local banks in emerging markets, many of which still rely on manual processes like voice trading, have been in fierce competition with titanic global institutions that have opened branches in their home countries and can service clients with more advanced trading technology. We help create equal opportunity for these incumbent players, arming them with the electronic platforms and workflows they need to take on higher trading volumes and increase revenues. By facilitating connections among domestic markets, their local buy- and sell-side trading communities and the wider international ecosystem, we’re doing more than just selling technology – we’re driving the globalization of FX across the board.

In the Middle East, we recently announced the launch of our flagship technology and credit intermediation services for GCC currencies, as well as in Egypt. As we continue to onboard local liquidity providers, our solution is poised to bring about an FX trading revolution in this region. Our customizable technology supports 24×5 trading via GUI, and by acting as a credit intermediary, we connect global clients directly with local banks to ensure they have access to the best rates on the market. It’s just the latest milestone in delivering superior liquidity and unparalleled efficiency to emerging and other non-G5 markets.

In the past year, we’ve also made continued strides in the LatAm region, upping our presence to help local banks stay competitive as deep-pocketed newcomers encroach on their business. As in the Middle East, we’re delivering not just technological efficiencies like algorithmic price discovery and electronic RFQs, but also avenues for clients to connect with global counterparties and stream their prices anywhere. This maximizes the potential for local banks to diversify, grow and operate more independently of regional forces. This renewed focus was exemplified by the early 2023 opening of Edgewater’s São Paulo office. As the largest financial market in the region, the decision to open an office here was a direct response to growing interest from Brazilian institutions looking to advance their technology and access our extensive network of global FX participants. Headed up by industry veteran Charles Achoa, the São Paulo office today facilitates trading for financial institutions around the world, including in the top 5 LatAm currencies.

Localized Solutions, Global Demands

As we continue to power local players in emerging markets, we’ve also made great progress on bridging regional divides in more established markets with our boots-on-the-ground approach. Our keen understanding of the unique dynamics of each local market means we can deliver unmatched capabilities, and we’ve seen a positive response to our efforts – particularly in EMEA and APAC.

We recently announced that our Edgewater Markets Limited entity has obtained a new license from the Financial Conduct Authority (FCA), solidifying our regulatory status and permissions within the UK. This, along with the appointment of Emanual Georgouras to the position of Senior Manager Function 1 UK Chief Executive, marked a pivotal moment for Edgewater Limited, allowing us to expand our services to a broader population of clients, with a full suite of offerings including liquidity provision, deliverable FX, NDFs, commodity and derivative products.

Also, we announced earlier this year the addition of Chan Chong San as Managing Director of APAC, where he is leading our new Singapore office. This move was a direct response to a larger market trend: increased demand for Asian NDF pairs. Under the leadership of Chan, who has 30+ years of deep experience spearheading the growth of FX trading revenues, we’ll be more prepared than ever to provide local banks with the international liquidity required to keep up with escalating trade volumes as this region continues to see explosive growth.

In sum, it’s been nothing short of a transformative year at Edgewater – and we’re just getting started. This period of technical advancements, regulatory approvals and personnel additions has driven significant growth, and we’re excited for the next chapter. With our rock-solid foundation of unblemished operational performance, a flexible, conflict-free business model and a wealth of focused expertise, there’s no limit to the possibilities we can unlock for our FX clients – no matter where their business lies. Stay tuned to see where we’re headed next as we help our clients optimize their workflows, capitalize on their strengths and find their trading edge.