SYDNEY: 10 June, 2011 - Global foreign exchange specialist OzForex and stockbroking software solutions provider SecuritEase® have teamed up to provide stockbrokers in Australia and New Zealand with integrated foreign exchange dealing functionality from within the SecuritEase® system. Foreign currency can be purchased with the click of a button, allowing stockbrokers to focus on trading and spend less time on administration.
The new functionality will streamline the trading process, eliminate the need for separate foreign currency arrangements, and allow stockbrokers to manage foreign currency risk at competitive rates.
SecuritEase® software will provide the distribution channel for OzForex's currency tool, combining two steps of the trading process into a single function. Stockbrokers will now be able to lock in foreign exchange rates as soon as they place an order, giving clients the benefits of live rates.
"By combining the expertise of OzForex and SecuritEase®, we are delivering a service that meets the needs of the growing number of investors trading internationally," said OzForex CEO Neil Helm.
"More and more investors are spreading their investments across international equities and we identified an opportunity to bring to the market a solution that made the foreign exchange element of trading easier for both stockbrokers and their clients," Mr Helm said.
SecuritEase® Managing Director William Tonkin highlighted the benefits the partnership will bring to stockbrokers and the robust risk management framework behind the technology.
"SecuritEase® has always been focused on helping its customers achieve true strategic advantage in their market, and by joining forces with OzForex we are helping to bring significant advances in the integration of online currency dealing with stockbroking clearing and settlement operations," Mr Tonkin said.
"The change in investment strategies and exchange rates following the global financial crisis means that there are now plenty of reasons for retail investors to diversify their portfolios by adding international equities and fixed interest instruments and by holding foreign currency. SecuritEase® licensees have done this using the SecuritEase® System. The ability to get real time quotes and buy or sell currency in real time will enhance the competitiveness and strengthen risk management for stockbrokers who are trading and settling in foreign markets."
OzForex is one of Australia's fastest growing companies, focused on providing a smarter, online alternative to existing foreign exchange services. Established in 1998 with the aim of providing individuals and corporate clients with a better deal, OzForex has offices in Sydney, Toronto, London, Hong Kong, and Auckland.
The OzForex Group includes OzForex, UKForex, Canadian Forex, NZForex, Tranzfers and ClearFX. It is a strategic investment of Macquarie Bank, Accel Partners and The Carlyle Group. The OzForex platform powers international money transfer services of ING Direct, Macquarie International Money Transfers and other international financial institutions.
About SecuritEase International Limited
The SecuritEase® system is a multi-market, multi-currency, multi-instrument business information system for stock brokers. It provides trade entry, portfolio position keeping and settlement processing for both the New Zealand and Australian markets. It can be used as a stand-alone CHESS gateway or as a fully integrated back office system by ASX participants.
SecuritEase International Limited is the international deployment vehicle for the SecuritEase® stockbroking system. SecuritEase International Limited has staff in Sydney, Brisbane, Melbourne, and Wellington and Auckland (New Zealand).
For further information, please contact:
Phone: +61 2 9994 4463, +61 451 669 200
Head of Marketing, OzForex
Phone: +61 02 8667 8068, +61 416 929 690
SecuritEase International Limited
Australia 1800 006472
Send money overseas at better rates than the banks.