TradAir Israel focuses on emerging markets. Her solution is designed to help banks, as well as the brokers themselves, to price out the different exchange rates based on an extensive database of information that’s kept relevant and up to date
Israeli startup and Forex trading platform, TradAir, closed a funding round valued at $10M according to a recent report by Calcalist . The round was led by VC’s Genesis Partners and Carmel Ventures.
Incorporating the financials
TradAir Israel focuses on emerging markets. Her solution is designed to help banks, as well as the brokers themselves, to price out the different exchange rates based on an extensive database of information that’s kept relevant and up to date. It does so by concentrating all the information from internal and external banking systems into one central bucket for analysis and execution.
This database sits inside a merchant bank that makes all the transactions regarding the actual buying and selling of currencies. With the extensive data collected and employing specific dedicated algorithms developed by the company, TradAir can control the pricing of various currencies and disseminate the information automatically to a variety of systems.
Among the solutions offered by the company is mobile based version allowing banks to supply their customers with information immediately, wherever they are around the world and from any mobile device they happen to use.
Turns to developing markets
As stated, the focus of the company is in emerging markets, Given that fact, TradAir is operating in markets where trading volumes are lower. Additionally, trading in these markets is done slightly differently than in the larger markets that most brokers are used to. These differences include approaches to credit and liquidity and an index borrower’s ability to repay its debts at the time of maturity.
The company explains that through its technology it is enabling banks and brokers to gain access to information, as well as gaining access to international networks. This all increases the efficiency of the entire process. Unique algorithms developed by the company are helping to present a dynamic and flexible solution, which in turn helps to significantly reduce the risk posed to the bank itself.
The company’s customers can be found in the EBS – the wholesale electronic trading platform, considered to be one of the world’s largest foreign exchanges. Other customers include well known banks such as French BNP, American State Street, Turkish Yapi Kredi and Israel’s Israeli National Bank.
TradAir was founded in 2010 by Illit Geller and Eyal Jedeikin, both founders of Traiana, which also dealt with the financial sector and was sold in 2008 to ICAP Group for $249M.