Each client trade regardless of product, is matched at one of the firm’s institutional counterparties. Existing institutional counterparty relationships are held with Barclays Bank PLC, Macquarie Bank International, Sucden Financial Limited and Citi Bank / Group. All trades are over the counter (OTC) and matched within seconds.
As an Authorised Electronic Money Institution, any funds received by Argentex prior to the value date of an FX trade or held by Argentex post trade but not yet paid to the order of the client are redeemed for Electronic Money, which is issued for to the client and segregated accordingly. All client balances are stored electronically on Argentex’s back office system, and repayable on demand in accordance with the Electronic Money Directive.