GAIN Capital Begins Full-Scale Live FX Trading Today; With 2-Month Beta Test Completed, 24-Hour Trading Commences At Up to 50:1 Leverage in Four Major Currency Pairs.Business Editors WARREN, N.J.--(BUSINESS WIRE)--May 31, 2000 GAIN Capital, the new online currency market maker dedicated to leveling the FX trading field for hedge funds hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" , mid-sized trading firms and private investors, today moved beyond its initial test phase to provide round-the-clock live trading in four currency pairs: Euro/U.S. Dollar (EUR/USD), U.S. Dollar/Yen (USD/YEN), British Pound/U.S. Dollar (GBP/USD) and U.S. Dollar/Swiss Franc (USD/CHF). Additional currency pairs, including crosses, will be added on an incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. basis. In addition to commission-free, 24-hour dealing capabilities, GAIN's Internet-based dealing system provides investors with access to real-time charting/technical analysis tools and streaming market news Both institutional and retail traders can now execute transactions of between $100,000 and $10,000,000 at up to 50:1 leverage at dealing spreads of 5 pips or less. All client funds are FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). and Fidelity Bond An insurance device in the form of a personal guaranty that protects against loss resulting from disreputable or disloyal employees or other individuals who possess positions of confidence. insured. The ability to trade directly from live bid/ask quotes is the centerpiece of GAIN's customer-oriented service. GAIN traders continuously publish real time prices via GAIN's secure, Java-enabled dealing software, and clients can at any time hit the bid or lift the offer and instantaneously execute a trade. This `universal pricing' dealing practice assures both pricing transparency and total anonymity for GAIN's client base - as GAIN traders will not know a client's intentions until after they have executed a transaction. "GAIN Capital is founded on the belief that online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. will revolutionize the currency markets in much the same way it has the US equity market, by commoditizing FX trading and leveling the playing field for the small- and medium-sized investor," said Mark Galant This article is about the musical style. For the Mitsubishi automobile, see Mitsubishi Galant. In music, Galant was a term referring to a style, principally occurring in the third quarter of the 18th century, which featured a return to classical simplicity , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and Founder of GAIN Capital. "In the Interbank in·ter·bank adj. Relating to, involving, or connecting two or more banks: interbank borrowing; an interbank network of automated teller machines. FX market, there has traditionally been a wide gap between the rates offered to large institutional clients versus those available to smaller FX market participants. The Internet is shrinking that gap, and Web-savvy traders now have the ability to execute FX transactions of all sizes at competitive Interbank rates. "We believe," Mr. Galant added, "that our combination of sound dealing practices, experienced management and trading team and real-time dealing and execution capabilities will make a major impact on the way FX trading is conducted." Other features of the system include order entry capabilities, portfolio management, profit and loss analysis, margin analysis, and overnight position management. GAIN Capital, founded in 1999, acts as a market maker offering institutional and individual investors real-time, Internet-based dealing, with 24-hour access and commission-free FX trading. GAIN executes FX trades of all sizes and, for the first time, investors will have the ability to conduct transactions of between $100,000 and $10,000,000 at the same prices the Interbank market Interbank market Financial institutions exchange of currencies between and among themselves. typically offers only to its large institutional clients. The company is headquartered in Warren, New Jersey. For more information, please visit www.gaincapital.com. |
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