In a recent announcement, Tradition-ICAP, a FX currency options voice broker and electronic platform operator, said that it had launched its new VolCall services geared specifically for the interdealer broker market,
According to the company, VolCall operates as a request for quote service for over the counter products, offering the advantages of both electronic brokerage and traditional voice call services. These two main services would be included in the package rolled out to all users of the Volbroker platform.
Tradition-ICAP Group COO Terry Benson said, "Our belief is that VolCall meets, head on, the ever increasing pressure faced by our clients to reduce their variable costs by lowering the cost of execution for FX Options in the interbank arena."
He further added, "VolCall represents a market first that we believe will help to change the way OTC FX options are traded. The regulatory environment is increasingly calling for more transparency and efficiency. VolCall meets this challenge and brings the solution to market."
There are several firms who offer OTC FX Options trading to retail clients. One such firm is New York-based IBTRADE.