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Foreign Exchange

FX news: Wocu: WDX spreads the word

WDX has sub-licensed the ePulse Web Messenger product to go live with a Wocu Messenger application. “This application is specifically designed to help WDX grow the Wocu, the World Currency Unit community,” says Barry Patel, managing director of ePulse. “In addition to a functionally rich web-based instant messaging platform, we are also pleased to announce our first implementation of the WDX streaming prices adapter. This will provide the WDX community with streaming Wocu spot rates and cross rates as part of the Wocu messenger offering, allowing clients to carry out efficient pre-trade conversations and price discovery on an OTC basis. We also expect to add further order management plug-ins to provide powerful electronic order processing and news dissemination capabilities.”

The news follows an announcement last week that an agreement was finalised with Navitas Resources, the Singapore-based specialist energy and climate commodity trade facilitator, to use bunker oil as the first physical commodity in the world to be priced in Wocus. The Wocu is expected to be used to price physical commodity contracts to be listed on Navitas’ NR-X Physical Commodity trading and procurement platform.

Prices for Wocu currency pairs can be found on the WDX website.

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