US based Wells Fargo & Company has selected Integral Development to introduce its new FX pricing service to meet liquidity, risk management and customer service requirements.
The platform will enable it to electronically access liquidity directly and indirectly from over 50 sources, such as market making banks, ECNs and professional trading firms, according to the bank.
As per terms of the deal, Wells Fargo oversees its liquidity sources, price-making streams and customer-specific offerings from Integral’s hosted administrative tools.
Commenting on the launch, Integral Development CEO Harpal Sandhu said, "The strengths of our cloud services and the improved access to the fragmented liquidity of FX markets will ensure that Wells Fargo’s customers are getting the best service possible."
The technology provider said that the system is a custom-configured version of FX Cloud and Integral’s open FX platform, which caters the full life cycle of foreign exchange as pre-integrated cloud services hosted by the latter.
Integral provides FX Grid, a global multi-sided trading network connecting active market participants with all major sources of FX liquidity.
San Francisco headquartered Wells Fargo manages $1.3 trillion in assets and delivers banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores and 12,000 ATMs.