Leverate is a
software as a service provider for
foreign exchange brokers
The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspe ...
. It provides both
electronic trading platforms and
back-office
A back office in most corporations is where work that supports ''front office'' work is done. The front office is the "face" of the company and is all the resources of the company that are used to make sales and interact with customers and client ...
software to manage a company's operations through its various subsidiaries. It has offices in
Cyprus,
Hong Kong,
Israel,
Ukraine,
China
China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...
,
Poland,
Bulgaria and
Germany.
History
Leverate was founded in 2008 by,
Doron Cohen
Doron may refer to:
People Given name
* Doron Almog (born 1951), Israeli soldier
* Doron Ben-Ami (born 1965), Israeli archaeologist
* Doron Egozi (born 1980), Israeli Olympic sport shooter
* Doron Galezer (born 1952), Israeli journalist
* Doron ...
,
Itai Damti
Itai (''ee-tai'') is a Hebrew biblical name, and also a Shona name. The name can also be written: Itai, Itahy, Ittai, Ittay, Etay, Eitay, Itay, Ytai, Etai, Itaj, Ithai, or Eatai.
Hebrew name
Itai ( he, איתי) is a Biblical name that appears ...
, and
Doron Somech
Doron may refer to:
People Given name
* Doron Almog (born 1951), Israeli soldier
* Doron Ben-Ami (born 1965), Israeli archaeologist
* Doron Egozi (born 1980), Israeli Olympic sport shooter
* Doron Galezer (born 1952), Israeli journalist
* Doron ...
who had worked together on the project since 2006.
The original idea was to create a
trading algorithm
Algorithmic trading is a method of executing orders using automated pre-programmed trading instructions accounting for variables such as time, price, and volume. This type of trading attempts to leverage the speed and computational resources of ...
for the purpose of buying and selling that was completely automated. It took two years to build the platform and the company was launched officially in 2008. Leverate received its first angel investment in 2008 from Jacques Beer, owner and chief executive officer of
Tempo Beverages Ltd. The company saw a limit to the use of the algorithm and instead turned it into a price feed for brokers that helped reduce losses incurred by latency.
Leverate discontinued the use of its algorithm in 2008 and began to market products to brokers.
One of the features of the algorithm was a product feed that was described as "fast" and "accurate." The company began using the feed to help brokers who had a lack of knowledge of market conditions. The feed became Leverate's initial product offering, referred to as LXFeed. Leverate moved from algorithm trading into the
SaaS market with the product launch, leading to the development of additional products that include risk management tools and mobile trading platforms.
Leverate expanded its operations in 2011 by adding 20 employees to its staff of 50.
The company was able to do so after selling a 25% stake to
Saxo Bank for $12.5 million (USD).
It also expanded its presence by opening a financial services branch in Hong Kong in 2012
and an office in Ukraine in 2013.
Leverate entered into an agreement with
Saxo Bank in 2014 to buy back that company's 25% stake in the company.
In November 2017, Leverate launched Cyprus-based regulatory consulting and services operation Regyoul8, The Financial Certification Services, The Edu8, and the new generation trading platforms.
Products
Leverate's first product was its LXFeed which launched in 2008. It released a risk management system in 2009. The same year, it began to bundle its products and release them under the name LXSuite while also allowing companies to purchase stand alone products. In 2010, it launched a platform called LXAPI which allowed users the ability to customize platforms. It also released LXCRM as a customer management tool for brokers. Digital currencies such as
Bitcoin
Bitcoin ( abbreviation: BTC; sign: ₿) is a decentralized digital currency that can be transferred on the peer-to-peer bitcoin network. Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distr ...
and
Litecoin
Litecoin (Abbreviation: LTC; sign: Ł) is a decentralized peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license. Inspired by Bitcoin, Litecoin was among the earliest altcoins, starting in October 2011. ...
were added to its LXFeed in 2014.
Leverate ventured into the
social trading marketing by launching Sirix Social Community and The New Generation Activ8. The community allows members to view and copy other trader's portfolios, creating transparency in currency pairs, as well as integrating with
MetaTrader 4.
See also
*
Currency pair
*
Exchange rate
In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of ...
*
Market basket
References
External links
* {{Official website, http://www.leverate.com, Leverate official website
Financial software
Financial software companies