The independent institutional broker from New York, CRT Capital Group LLC has announced the launch of a new foreign exchange trading service for its customer base that spreads across the globe. Incidentally, this new service is expected to complement the huge range of existing client services that the broker already provides.
In first half of this year, CRT decided to add forex trading capabilities for its customers and hence, Klaus Said, Seth Garrett and Alan Stuart were asked to oversee the entire development part of this new full time forex business. Incidentally, Alan, Klaus and Seth – all three boast years of experience in heading the forex operations at some of the top financial institutions such as: Credit Suisse, JP Morgan, Societe Generale etc. Apart from the trio, a highly experienced team of sales, execution and transaction was also added for developing this forex trading service. This new premium forex platform is expected to combine the best in class systems and a highly skilled structuring team.
The forex business that CRT runs clears transactions through Citibank NA and the transactions are completed, abiding by a prime brokerage agreement. The business offers institutional clients of the company with a full suite of different forex products such as: NDF, Spot, Options, Forward and Options. The new trading platform is going to have a 24 hour open trading desk and therefore order executions are expected to be taken care of seamlessly.
Alan Stuart is currently donning the hat of Managing Director in this foreign exchange business of CRT. He stated that not only him, but both Klaus and Seth are thrilled to get the chance of working with CRT which has more than 20 years of experience in the forex broking industry. Alan added that CRT handles their customer base probably in the best possible fashion and that was a prime factor behind his decision to collaborate with the broker in establishing the new forex trading business.
The Chief Executive Officer of CRT, Ron Kripalani stated that with addition of the foreign exchange capabilities, CRT is expected to become the first choice for clients who seek a diverse product platform for proper trading and risk management. He added that the new business will continue to serve clients in the best way and price execution will be available on a huge number of deliverable and non-deliverable currencies.