TraderTools Inc., a foreign exchange trading platform developer, has added Erste Group Bank AG as its latest market-making bank on the group’s Unique Liquidity Network (ULN), according to a company statement.
TraderTools’ ULN helps provide a single liquidity pool in emerging and local market currencies from both non-bank and regional bank market makers. Presently, participating banks on the ULN possess a robust presence in both emerging market (EM) and local market currencies in the Central European region, as well as the Turkish lira, South African rand, Nordic currencies, .
The addition of Erste Group to TraderTools’ ULN is important as it helps extend access to a fast growing region in Europe. For its part, Erste Group is one of the largest banks in Central and Eastern Europe – the group will be making markets in CE3 pairs, as well as Romanian, Czech, Hungarian, and Polish currency pairs.
According to Yaacov Heidingsfeld, co-founder and President of TraderTools, in a recent statement on the addition: “As best execution and TCA continue to be a focus in our marketplace, increased transparency, and depth of book, by participants who are quoting for business they want to win, we believe our ULN benefits both sides of the transaction. Erste is a valuable partner and we look forward to continuing to build upon our relationship.”