Finalto Adds Taiwanese Dollar to NDFS Portfolio

The advancement provides Finalto customers in Asia and other countries with better access to growing markets, while also increasing efficiency and reducing operational complexity.

The Taiwanese dollar has become a popular proxy for Asian market dangers caused by Russia's invasion of Ukraine. Finalto claims that the move would assist it to satisfy the hedging and execution requirements of its corporate and institutional customers, which include local banks, pension funds, hedge funds, brokers, and end users, for real Asian FX and non-deliverable futures transactions.

Furthermore, customers benefit from enhanced counterparty risk management and greater capital efficiency, since liquidity and access are confined to end users, increasing dependability.

NDFs account for a modest fraction of total FX activity, but the product has grown rapidly in recent years since it allows traders to trade spot FX in limited markets where currencies are not deliverable. NDFs differ from conventional monetary products in that there is no central exchange or delivery. Rather, cash settlement is based on the difference between the exchange rate at the time of the deal and the exchange rate at maturity.

“Taiwan's currency lost 10% versus its US equivalent in 2022, its worst loss in 25 years as Fed rate rises bolstered the greenback,” said Neil Wilson, Chief Markets Analyst at Finalto. In response to the strengthening dollar, Taiwan's currency fell to its lowest level in more than five years, with the country's central bank aggressively intervening in the market to arrest the slide. Since then, the Taiwan dollar has recovered somewhat as USD longs unwind positions on anticipation that the Fed would reduce and cease rate rises.

Finalto has continually focused on improving its product over the last several months, resulting in the prize for Best B2B Liquidity Provider (Prime of Prime) at the FMLS22 Awards, barely five months after earning the same honor at the Ultimate Fintech Awards in June.

Finalto offers a comprehensive variety of services and solutions to help build the ideal technological proposal for a brokerage firm. This contains a whole end-to-end solution that incorporates front-end platforms, back-office administration, risk management tools, pricing tools, and improved connectivity.

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