ETNA Enhances Cross-Border Trading with Multi-Currency Support for US and Canadian Broker-Dealers

ETNA has significantly upgraded its white-label trading platform with the introduction of multi-currency support, specifically tailored for US and Canadian broker-dealers and investment advisors. This new feature streamlines cross-border trading by eliminating the need for manual currency conversions, making it easier for traders to engage with foreign securities.

Key Enhancements

• Currency Pair Support: Brokers can now add currency pairs such as USD/CAD to facilitate multi-currency trading.
• Manual Exchange Rate Management: Exchange rates can be set and updated manually by brokers to reflect current market conditions.
• Dual Currency Display: Securities priced in one currency automatically display an approximate value in another currency, based on the configured exchange rate.

How It Works

1. Currency Pair Setup: Brokers add currency pairs using the Back Office Securities widget.
2. Exchange Rate Configuration: The exchange rate is manually entered and remains fixed until updated by the broker.
3. Automatic Conversion Display: Once configured, traders see both the original price and an approximated value in their preferred currency.

Benefits for Broker-Dealers and Investment Advisors

• Simplified Cross-Border Trading: Traders can easily compare prices across currencies without relying on external conversion tools.
• Flexible Rate Management: Brokers have the ability to update exchange rates as needed to accurately reflect market conditions.
• Expanded Trading Opportunities: Multi-currency support opens up new possibilities for cross-border trading, potentially increasing transaction volumes.
• Enhanced User Experience: International investors can view pricing in familiar currencies, making decision-making more intuitive.

Cross-Currency Trading Feature

ETNA’s cross-currency trading feature allows for seamless transactions between accounts denominated in different currencies. Here’s how it works:

• Automatic Conversion: When placing an order, the system automatically converts the trade amount from the account’s base currency to the required currency using the current exchange rate.
• Exchange Rate Application: The conversion uses the exchange rate set by the broker in the Back Office.
• Transaction Recording: Both the original amount and the converted amount are recorded, providing clear transaction history.

Implementation and Support

The multi-currency support feature is now available for all clients in ETNA Trader. Brokers interested in implementing this feature can follow these steps:

1. Access the Back Office Securities widget to add desired currency pairs.
2. Set initial exchange rates for each currency pair.
3. Regularly update exchange rates to ensure accuracy.

For detailed setup instructions and best practices, brokers can refer to ETNA’s comprehensive Help Center documentation.

This enhancement to ETNA’s white-label trading platform represents a significant step forward in facilitating cross-border trading between the US and Canadian markets. By simplifying currency conversions and providing real-time approximate values, ETNA is empowering broker-dealers and investment advisors to offer more sophisticated and user-friendly trading experiences to their clients.

To learn more about implementing multi-currency support or to schedule a demo of ETNA’s enhanced trading platform, please contact our support team.