New York & London – June 9, 2011 – TwoFour, a leading provider of global real-time FX, treasury cash management, limit monitoring and order management solutions today announced that Institutional Liquidity (ILQ), a new addition to the burgeoning Retail Foreign Exchange Dealer (RFED) market has gone live with TwoFour’s FX Back Office. TwoFour will also support additional FX functionality across the enterprise.
ILQ is a U.S. domestic company and Futures Commission Merchant that has entered the foreign exchange market as an RFED, providing banks, FCMs, brokers, dealers and corporations access to the FX market. ILQ now uses TwoFour’s FX solution for trade capture, position management, P&L, shared reference data, settlements, revaluation, allocations, multicurrency accounting, reporting and more.
TwoFour was able to implement and deploy the FX solution in a rapid timeframe of just twelve weeks. TwoFour’s implementation team worked closely with ILQ throughout the entire process, from configuration to rigorous testing in both pre- and post- release environments. The working relationship between TwoFour and ILQ ensured an extremely smooth and on-target implementation and delivery.
“We licensed TwoFour based on its impressive flexibility, design, functionality and scalability and were equally impressed by the ability and expertise of its team throughout the entire implementation process,” said Larry Caltagirone, CEO, ILQ. “Our goal is to offer our clients the most cutting edge technology to provide fast and fair execution, and we are confident that partnering with TwoFour strengthens our offering as we enter the exciting RFED marketplace.”
“Designed for quick integration, TwoFour can be implemented quickly without a lengthy setup and configuration process,” said Chris Davis, co-founder and global head of sales at TwoFour. “ILQ received a highly scalable, fit-for-purpose solution with low TCO and robust functionality. TwoFour’s solution provided immediate benefits to ILQ in the short-term and will easily expand to meet ILQ’s long-term goals. We look forward to a long and successful partnership with ILQ.”