360T adds zloty and rand to Supersonic TEX

August 31st 2009

FRANKFURT - 360 Treasury Systems (360T) has added executable streaming prices for the Polish zloty and South African rand to multi-bank foreign exchange trading platform, Supersonic TEX, in response to client demand.

The addition of the two currencies brings the total number of tradable currencies available to 14. The platform also enables users to trade forwards, swaps and options.

Alfred Schorno, a 360T board member in Frankfurt, told FX Week that interest for trading the currencies came mainly from its European customer base. He added that banks, meanwhile, are interested in quoting prices in the two currencies because they are more liquid than other emerging market currencies.

Analysts expect the zloty to outperform other currencies in the eastern European region, as the losses suffered since October last year have been related to speculation rather than weak fundamentals (FX Week, August 10). The unit lost about 60% against the US dollar between October and March, but has since gained around 24% to reach 2.8771 on August 27. Meanwhile, the rand is often traded as a proxy for risk appetite in its time zone, according to analysts.

The move follows the launch of 360T's enhanced order-management tool on cross-product trading platform, 360T TEX, offering automatic order routing, auto filling and margin trading (FX Week, July 27).

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