Edgewater Markets has strengthened its presence in Latin America with the opening of a new São Paulo, Brazil office. Announced on Wednesday, Charles Achoa, hired by the company last October, will head the new office.AloGatewayis a Global payment processing service and solutions provider able to cater to a multitude of clients ranging from small family-owned businesses to large corporations.
Edgewater Markets Opens New São Paulo Office
The São Paulo office is an addition to the company’s headquarters in the United States and other offices in the United Kingdom, Singapore, Mexico, and Chile.
The company decided to expand its global footprint with a new office as global demand grows for its FX trading technology and execution services. It is also going on an extensive hiring spree.
The official press release also highlighted that the interest in the company’s services is growing in Brazil as financial institutions look to advance their technology. Edgewater is well-positioned for this market with its extensive network of global FX market participants.
Keep Reading
- Liquidnet Cooperates with BondAuction to Integrate OMS
- Understanding Liquidity and Market Liquidity
“Brazil is a tremendous market for us, and one of the fastest-growing participants in currency trading globally,” said Edgewater Markets’ Managing Director and Head of Sales for Americas, Jose-Antonio Buenaño.
“Edgewater believes strongly in ‘boots on the ground,’ where our uniquely experienced FX professionals, armed with unparalleled local knowledge, are closest to the markets, developments, and players. With our significant and growing client base in Brazil, we’re excited to have São Paulo join our offices in Santiago, Mexico City.”
Check out the latest FMLS22 on “Advances in Trading Technology.”
The Push in the Latin American Markets
Edgewater Markets provides electronic forex workflow management, specializing in FX trade execution and liquidity aggregation. The company’s ambitions for capturing the Latin American markets were clear when it launched EdgeFXLatam to offer streamed price technology for local participants in the region. The forex trading services provided by the company globally also include five Latin American currencies, the Chilean peso (CLP), the Mexican peso (MXN), the Brazilian real (BRL), the Colombian peso (COP), and the Peruvian sol (PEN).
The expansion also came when the overall volume of assets traded on its platform jumped by 90 percent year-over-year. The uptick was primarily driven by a 300 percent increase in activities with non-deliverable forwards (NDFs) and a 35 percent uptick in precious metals.
“We’re excited to be contributing to the growth and development of FX in Latin America, helping domestic markets expand their reach into the global institutional buy-side and sell-side trading communities,” said Edgewater’s Chief Product Officer, Brian Andreyko.
“Around the world, our approach is not to just sell technology but to truly partner with our clients, ultimately increasing revenue per trade and local market share, and expanding relationships in the FX and commodity markets.”
