Sucden launches electronic trading for NDFs

Sucden Financial has enabled executable streaming prices for non-deliverable forwards (NDFs) in addition to voice broking in NDFs, as part of efforts to expand its footprint in the emerging markets.

The London-based institutional broker is focusing on Asian and South American NDFs, primarily products linked to the Brazilian real and Indian rupee (INR), but more are available on request, it said.

"NDFs are particularly popular in Asia, a region we have identified as a key part of our growth strategy. INR is a very active product for us and I estimate it accounts for at least 5% of the revenues of our FX business," Jonathan Brewer, head of e-FX business development at Sucden Financial in London tells FXRetail.

"In addition, many of the economies with currencies that trade as NDFs focus heavily on commodities. By offering NDFs electronically, we are therefore building on our strong heritage in the commodities space."

Sucden Financial also recently added a range of spot Eastern European currencies to its offering, including USD/RON, USD/RSD and USD/BGN from three European liquidity providers.

These latest developments follow the extension of access to trading over the Currenex platform, in addition to trading via Integral's platform last month.