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GAIN Capital Expands Product Offering
Internet-Based Foreign Exchange Trading Service To Support 20 Currency Pairs
WARREN, NJ, November 7, 2000 - GAIN Capital, the premier source for online currency trading (www.gaincapital.com), announced today support for additional currency pairs. The expansion of GAIN's product offering supports the firm's growing user base, which now includes institutional and individual FX traders from more than 100 countries around the world.
As of November 15, 2000, GAIN will support 24-hour, commission-free trading of U.S. Dollar/Canadian Dollar (USD/CAD), Australian Dollar/U.S. Dollar (AUD/USD), and all major crosses, bringing the total number of supported currency pairs to 20.
Glenn Stevens, Head of Sales and Trading at GAIN Capital, commented that the firm planned to expand its product offering and polled the client base to determine clients' preferences. Almost everyone wanted to trade the Euro crosses, which makes sense given the Euro's decline over the past several months vis a vis the other major currencies. Australian and Canadian Dollar were the other most popular responses, so we added them as well, said Mr. Stevens.
Since GAIN's launch on May 31, 2000, the firm has supported 24-hour, commission-free trading of the four major currency pairs, which include: Euro/U.S. Dollar (EUR/USD), U.S. Dollar/Yen (USD/YEN), British Pound/U.S. Dollar (GBP/USD) and U.S. Dollar/Swiss Franc (USD/CHF).
GAIN's Internet-based dealing system supports anonymous, one-click dealing from live, two-way quotes with one-second execution and confirmation. The system provides clients with real time P&L, sophisticated order entry and tracking, and full back office functionality with straight through processing capabilities, including deal history, margin analysis and overnight position management.
The dealing system also provides comprehensive decision support tools, including real time streaming news from Market News International, charting, a real time ticker monitoring other financial markets, a comparative Interbank rate feed, and intra-day market commentary provided by GAIN's trading team.
GAIN Capital, founded in 1999, offers institutional and individual investors direct access to 24-hour, commission-free Forex trading at Interbank spreads. GAIN Capital's Internet-based service raises the bar for the industry - in terms of standards, highly respected staff and superior dealing practices - and revolutionizes the practice of FX trading by allowing clients to instantly deal from live, streaming quotes. For more information, please visit www.gaincapital.com.
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Overview