NEW YORK–(BUSINESS WIRE)–Forex International Trading Corp. (the “Company”) (OTCBB:FXIT), today
announced a joint venture with Heffernan Capital Ltd. The purpose of the
joint venture is to promote the www.4xint.com
site throughout Asia.
This Joint Venture is being tested for six months to determine the
market opportunity in the Asia market. While Singapore has represented a
strong market for the Triple 8 platforms, the Company has not focused
its marketing efforts in other countries in the region.
Forex International Trading has chosen Heffernan Capital Ltd. to partner
with to market in this region because of their strong reputation and web
presence in this region. In fact, one of Heffernan Capital’s websites www.livetradingnews.com
ranks 515 in South Korea on www.alexa.com
which places it higher than www.fidelity.com,
Forex International Trading CEO Darren Dunckel commented “I am excited
to partner with such well respected names in the financial services
industry.” Issaree Suwunnavid CEO of Heffernan Capital said, “Foreign
Exchange, Gold and Commodity Trading are extremely popular in Asia and
we will be building out multilingual services to capture that market.
The reach that the new web platforms provide should provide us with
exposure that will help us to execute our business plan in the Asian
The site www.4xint.com
will continue to block traffic from the United States while the Company
continues to develop its strategy for the United States.
About Heffernan Capital Management
Heffernan Capital Management aims to become one of the world’s leading
asset management enterprises. It specializes in global investment
management, risk management and advisory services to institutional,
intermediary and individual investors around the world. Heffernan
Capital Management offers a range of solutions, from proprietary active
management approaches aimed at delivering true outperformance to
algorithmic indexing strategies designed to manage broad exposure to the
world’s capital markets. Heffernan Capital Management brings investment
solutions through a wide variety of product structures, including
individual and institutional separate accounts, mutual funds and other
pooled investment vehicles, and the industry-leading trading platform
Heffernan Capital Management Direct. The foundation of our business is
to deliver the best for our clients, every time.
Heffernan Capital Management combines specific market insights, global
reach and scale, proprietary technology, strong local knowledge and
ability to deliver performance in all market environments. Its goal is
always striving to achieve the best balance between risk and
opportunity. It is a global firm with our roots in the Emerging Markets
of Asia; that combines the benefits of worldwide reach with local
service and relationships.
About Forex International Trading Corp.
Headquartered in New York, NY, Forex International Trading Corp.
operates an offshore advanced online trading platform for Forex markets
to non U.S. residents. The Company focuses on providing individual and
institutional investors with a platform for buying and selling
currencies, precious metals and commodity futures. The company’s
platforms allow self-directed, broker-assisted, and managed accounts.
Through the platforms, customers have access to over 20 currencies and
bullion deliveries. The Foreign Currency Market (“Forex” or “FX”) is
created by the global exchange of currencies. According to the Bank for
International Settlements, the average daily turnover, or, volume in the
Global FX market in April 2010 was $4 Trillion compared to only $1.2
Trillion in 2001 (Wall Street Journal, Sept. 1, 2010). Historically,
access to the FX market was only available to governments, commercial
banks, corporations, and other large financial institutions. The Company
is now capitalizing on the growth of online currency trading through its
state of the art web-based trading platforms.
For more information, please visit: http://www.forex-international-trading.com.
Forward-Looking Statements: This press release contains
forward-looking statements, including expected industry patterns and
other financial and business results that involve known and unknown
risks, uncertainties and other factors that may cause our actual
results, levels of activity, performance or achievements to differ
materially from results expressed or implied by this press release. Such
risk factors include, among others, whether Forex International Trading
Corp. can successfully execute its operating plan; its ability to
integrate acquired companies and technology; its ability to retain key
employees; its ability to successfully combine product offerings and
customer acceptance of combined products; general market conditions; and
whether Forex International Trading Corp. can successfully develop new
products and the degree to which these gain market acceptance. Actual
results may differ materially from those contained in the
forward-looking statements in this press release. Forex International
Trading Corp. does not undertake any obligation to update or revise
forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating