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ODL Markets offers No Dealing Desk Execution on forex trades

Tuesday, 06 July 2010 12:35 GMT

by  Jaclyn Sales,

06 July 2010—Clients of ODL Markets are now benefitting from No Dealing Desk execution on their forex trades, eliminating dealer intervention to provide you with transparent and fair execution.

No Dealing Desk execution provides greater transparency and fairer execution by removing the conflict of interest between brokers and traders as well as reducing the potential for market interference by price providers.

ODL Markets is taking a lead in the UK by offering FXCM’s No Dealing Desk execution on forex and spread bet transactions and no re-quotes on CFD trades. As a result, ODL Markets is able to stream competitive spreads that are provided by some of the world’s largest banks and financial institutions and streamed to traders with a small mark up. Spreads can be as low as 1 pip or less for major currency pairs.

The change affects almost 14,500 individual trading accounts and comes a month after FXCM agreed to terms to acquire the ODL Group. ODL clients are now benefitting from FXCM’s established relationships and can have the confidence of trading with one of the world’s largest and strongest retail forex, CFD and spread betting companies.

Drew Niv, CEO of FXCM, the global forex and CFD powerhouse, said: ““FXCM spearheaded the introduction of No Dealing Desk execution to the market in 2006 and ODL Markets clients can now benefit from No Dealing Desk execution on forex trades. Under No Dealing Desk execution, every forex trade is executed back to back with one of the world's premier banks or financial institutions. Banks compete with each other to offer FXCM the best bid and ask prices, which we pass onto our clients, resulting in low spreads and faster execution as there is no intervention from a dealing desk. Another major benefit is the ability to place orders within 1 pip of the market with no restrictions.

“Having multiple price providers is especially important in volatile markets when one or two banks may post wide spreads, or simply avoid quoting any price at all. With so many major banks quoting prices to FXCM there are competitive spreads, even during market-moving news events.”

To open a No Dealing Desk account through ODL Markets go to: http://www.odlmarkets.com/accounts/.

Risk Warning: Trading FX, CFDs and Spread Betting on margin carries a high level of risk, and may not be suitable for all investors. Read FXCM’s full disclosure: http://www.fxcm.co.uk/docs_pdfs/risk-disclosure.pdf

About ODL Group:
ODL Group is a leading, independent forex, derivatives, equity and commodity trading house. Headquartered in London, ODL Securities offers retail, IB and white label clients an integrated approach to trading diverse financial products. The ODL Group now trades under the names ODL Markets powered by FXCM.

ODL Group Limited (ODL) announced on 5 May 2010 that it has agreed on terms to be acquired by FXCM Holdings LLC (FXCM), a leading global forex broker that caters to both retail and institutional markets. ODL’s strong UK and European businesses will provide an excellent complement to FXCM’s sizeable operations in both the United States and Asia. The combined companies will operate as one of the largest non-bank forex brokers globally servicing over 200,000 live trading accounts with combined client assets in excess of US$800 million. The deal is still pending final due diligence review and regulatory approval.

ODL Securities Limited is authorised and regulated by the Financial Services Authority and is a member firm of the London Stock Exchange and NYSE Euronext, LIFFE. For further information please visit www.odlmarkets.com.

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