TwoFour taps CalForex to expand Forex tech

TwoFour is a provider of 24X7 global technology and consultancy solutions for treasury and capital markets. Its management team has more than 175 years combined experience in financial services technology, serving the world’s leading institutions. Established in 2002 and headquartered in New York, TwoFour is privately held with more than 135 employees across two continents. TwoFour is a specialist provider of global real-time FX and Cash Management software for the financial services industry.

Calgary Foreign Exchange, Inc (“CalForex”) has  opted to select TwoFour’s Foreign Exchange (“FX”) software solution to manage its FX order management, front office and back office operations. With branches across Canada, CalForex offers a wide variety of FX services and financial products to corporate, institutional, and retail customers worldwide.

To better support their expanding business, CalForex was looking for a technology solution to deliver a robust user experience to both internal and external users. Additionally, CalForex was seeking a solution that meets their current requirements and has the ability to easily evolve to meet future requirements. The trading and operations teams were impressed with TwoFour’s ease of use and built-in configurability. TwoFour’s highly configurable solution provides clients with the ability to adapt usage with little involvement from TwoFour. Key configurable components include flexible workflow management, integrated screen design, rapid interface configuration, and integrated report functionality.

The CalForex implementation team will configure TwoFour to manage orders, capture trades, keep real-time positions and P&L, and manage risk. TwoFour will be used in the back office to confirm, settle, and account for all FX activity. TwoFour’s client portal will be implemented and white labeled to provide CalForex’s clients with the ability to manage their positions and view statements and reports. CalForex is looking to expand their FX business into the US and Europe and will leverage TwoFour to help facilitate this global expansion. TwoFour will collaborate with CalForex to implement the system with the objective of going live in a few months.

“We are looking forward to a great partnership with TwoFour. Their client portal will support CalForex in its efforts to offer enhanced services to our customers and the system’s configurability will support our growth and expansion,” said Sam Ranieri, Vice President Corporate, for CalForex.

“TwoFour’s ability to delive to deliver its user-friendly and configurable solutions in a timely manner continues to prove to our growing client base that TwoFour was the right solution partner to select,” said Chris Davis, co-Founder and Managing Director of TwoFour.