Tradition-ICAP, the world's leading voice broker and electronic platform (Volbroker) for the trading of FX currency options, today announced the imminent launch of its new VolCall service for the interdealer broker (IDB) market. VolCall is a request for quote (RFQ) service that allows market participants to request and trade over-the-counter (OTC) specific interests electronically with intelligent protection for the first time.
VolCall has been developed to offer all the benefits of electronic trading whilst maintaining the comfort, flexibility and protection enjoyed in the traditional voice broking arena.
Following the completion of successful beta testing, Tradition-ICAP will launch VolCall to all Volbroker users.
VolCall will allow market participants not only to deal on prices with full liquidity shown, but also to counter with bids or offers based upon the clear information displayed on that specific interest.
Terry Benson, Group COO of Tradition-ICAP said: “Our belief is that VolCall meets, head on, the ever increasing pressure faced by our clients to reduce their variable costs by lowering the cost of execution for FX Options in the interbank arena. VolCall represents a market first that we believe will help to change the way OTC FX options are traded. The regulatory environment is increasingly calling for more transparency and efficiency. VolCall meets this challenge and brings the solution to market.”