Press Release At a Glance:

  • Automating FX policies and promoting price competition for international participants seeking to access the world’s second largest financial market.
  • Genesis and ChinaFICC have successfully built the first iteration of an FX electronic trading platform targeted at the domestic Renminbi.

London – Wednesday April 28th, 2021

Genesis, the global Low-Code Application Platform (LCAP) provider for financial markets has been selected by ChinaFICC, the fintech firm delivering execution and trade management solutions for international investors in the Chinese markets, to help digitize and automate access for international investors to the growing Chinese markets.

International investment in China’s financial markets is expanding faster than ever due to the steady evolution of its access rules. China operates the second largest bond and equity markets in the world. Historically, international access has been subject to strict policies, many of which have created manual workflows posing additional costs, risk and compliance considerations.

Genesis and ChinaFICC will collaborate to design and deliver a range of applications built on the Genesis Low-Code Application Platform (LCAP). These applications will address the challenges associated with foreign investment in China and ensure that international participation can scale at pace, free from avoidable costs, risks and capacity limitations. Designed to automate the full end-to-end workflow, across pre-trade, post-trade and execution to ease access, ChinaFICC and Genesis will focus on providing market access, increasing automation and bringing down costs and risk for international market participants.

One major area of concern for foreign bond and equity investors is a lack of a market infrastructure to manage FX risk. As a restricted currency, the CNY is subject to strict regulation and limited access. By improving automation and controls, and addressing the competitive issues limiting participation in the domestic Renminbi market (CNY), these new capabilities are expected to have a positive impact for the global trading community, as well as the Chinese financial markets.

Genesis and ChinaFICC have successfully built the first iteration of an FX electronic trading platform targeted at the domestic Renminbi: The ChinaFICC Controlled FX Execution and Reporting Platform. Built entirely on the Genesis LCAP, the unique and innovative FX platform intends to significantly improve price competition, guarantee adherence to currency restrictions and mitigate risk through fully automating FX order creation, management and generating the reconciled reporting needed by all participants.

Peter Best, CEO and co-Founder of China FICC said: “China is a rapidly evolving market that has outperformed world indices in 2020 and is ripe with opportunity for international investors. Our aim is to improve access to the Chinese financial markets through automation, behind the scenes validation, dynamic order routing and report generation. After reviewing and assessing a number of low-code platforms, it became clear that Genesis is the only platform purpose built for financial markets. The Genesis LCAP will allow us to bring performant, secure applications to market quickly, and in the long term, to drive international investment in the Chinese markets.”

Peter Best continued: “What excites us about Genesis LCAP is that it provides the core underlying building blocks that can be extended and enhanced at speed to accommodate a dynamic and changing rule set. The FX platform deploys a high-performance application, with low latency and responsive workflows to the benefit of both sides of the market, increasing price competition and automation that improves trading performance and enables new market participants.”

Stephen Murphy, CEO of Genesis, said: “International investment in China is accelerating and the need to provide streamlined, digitised access to China’s financial markets is critical as its economy expands. FX trading platforms are seen as the highest in terms of throughput, latency and complexity to meet this growing demand. ChinaFICC and its founders are applying their vast experience in the evolution of Western financial markets to improve access for international participants to China. We look forward to innovating with ChinaFICC to deliver fully automated workflows and to ultimately scale access for the international investment community. More is to come with ChinaFICC and others as Genesis continues to grow internationally, using our recent funding to expand into international markets including Asia-Pacific, and further build out the Genesis platform’s low-code tooling and functionality.”

For more information, join us today at the Genesis Global Expo 2021 with special guest ChinaFICC:

When: April 28, 2021

  • What: Join us on April 28th 9am EST / 2pm BST for Genesis’ monthly showcase on how the Genesis low-code platform is transforming financial markets IT delivery
  • How: Live stream the event here: https://genesis.global/upload-stream/
  • Watch the keynote from ChinaFICC CEO and co-founder, Peter Best, at 09:35 EST / 14:35 BST