Forex trading firm continues expansion

The Performance Foreign Exchange Corp. (PFEC), the country’s largest internet FX informa-tion service provider, is inaugurating its Cebu branch at the Cebu Business Park on March 29, 2004. Cocktails and dinner will be held at the Marriott Hotel ballroom in Cebu City at 6 p.m.

On April 2, the Performance Group will inaugurate its office in Tokyo, Japan under the trade name of Performance Forex Co. Ltd. Office location will be at the prime area of Ochisaiwai-cho, Chiyoda-ku Yamato, Tokyo.

PFEC executive director Roberto Borromeo, said that the firm’s expansion would encourage more local and foreign players to participate in spot foreign exchange trading using the company’s state-of-the-art FX trading platform.

The Cebu City branch office of PFEC is located at unit 602, 6th floor of the Ayala Life-FGU Center along Mindanao Avenue at Cebu Business Park. The company’s main office is located at the Enterprise Center along Ayala Avenue, Makati City.

PFEC is engaged in spot FX trading, a transaction which Reuters News Agency described in its Introduction to Foreign Exchange and Money markets as a "deal in which two parties exchange two different currencies at an agreed exchange rate for settlement in two business days." It should be differentiated from a futures FX contract that is for delivery beyond the two-day period and is traded in a formal exchange market. Spot FX transactions are not coursed through formal exchanges.

PFEC facilitates spot FX transacton through its FX station which is a platform developed to answer the clients’ need for a fast, safe, efficient and transparent execution system. It taps into the world’s biggest market, the currency market, which handles a turnover of more than $1.2 trillion per day. FX transactions worldwide dwarf the volume levels of the New York Stock Exchange by 75 times per trading day.

"PFEC gives you all the information you’ll need to make sound decisions on what currencies to trade and when. But what I find attractive is that they leave the decision-making to you," said Herbert Chan, in importer who availed himself of PFEC’s market expertise and tools in trading foreign currencies.

Other clients of PFEC have found very useful the internet platform that the company provides to make currency tracking, risk assessment and the trading itself instantenous at the touch of a button.

PFEC is recognized as the only spot FX trading house since 1998 and is the first to introduce the combined trading service of both internet and phone dealing. It is also the only company that provides a Currency Tracker, a video capture of experts’ interviews and complete on-line FX information in multi-languages (English, Chinese, Korean, and Japanese). PFEC is just a phone call away, 24-hours a day.