National Bank of Fujairah launches electronic trading platform NBFX Filed on September 19, 2021
NBFX will enable customers to execute complex FX Non-Deliverable Forwards and FX Time Options, alongside the more traditional FX Spot, FX Swaps and FX Forwards, on a 24/5 basis

National Bank of Fujairah (NBF) has announced the launch of its electronic trading platform - NBFX.

Expanding the bank’s digital offerings, NBFX offers customers a bespoke digital experience to hedge their treasury requirements and is available for both conventional and Shariah-compliant banking customers. The 24/5 availability means that customers can execute transactions during and beyond the bank’s working hours and benefit from liquidity across all time zones.

The new platform acts as an efficient, competitive and user-friendly venue for executing Foreign Exchange and Precious Metal transactions. NBFX provides users with a tailored experience that is based on their needs with instant and easy execution of FX trades, order management and readily available transaction history. Unique to NBFX is the possibility for customers to execute FX Non-Deliverable Forwards (NDFs) and FX Time Options on a 24/5 basis.

Commenting on the launch of NBFX, NBF’s CEO Vince Cook, said: “The launch of NBFX further highlights the bank’s commitment to being the best financial partner for customers; this is achieved by combining the latest technology with its in-depth market experience. This unique platform ensures that customers are able to customise it according to their preferences, have access to the most competitive price execution, and tap into valuable data and insights to help guide their decisions."

He added: "In addition, they have the backing of a team of experts across treasury, trading and structuring to help them navigate market changes and hedge underlying risks. Looking ahead, we have plans to expand the scope of NBFX to cater to customers’ wider requirements across energy, base metals and soft commodities.”

NBFX is designed for existing and prospective customers enabling them to benefit from a simplified and streamlined deal booking process, reducing the need for manual intervention whilst opening up real time competitive FX and Precious Metal prices. By leveraging best practices and multifactor authentication for customer logins, NBFX provides a safe and secure platform for customers to execute transactions.

Developed in response to customers’ needs, this new platform is in line with the bank’s overall strategy of helping its customers leverage new opportunities made possible by evolving financial technology.

Staff Reporter

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