The company offers information services to investment banks and brokers assisting them in electronic currency trading – an increasingly growing market.
The company's headquarters are located in the heart of Ramat-Gan – a Tel Aviv satellite. The company has some 50 employees and is headed by Ran Strauss and Doron Cohen. The two mentioned that the company's agreement with Saxo will have no bearing on their work with other banks.
Strauss and Cohen say that "Leverate will enjoy high liquidity provided by Saxo. Saxo's financial customers will have full access to the electronic broker system which includes not only more accurate estimations of currency exchange rates but also a risk management system, a CRM system and a system for real time feeds of business transactions.
Leverate's system calculates real-time foreign currency rates in an accuracy of five places after the decimal point as compared with an accuracy of three places after the decimal point common to systems used outside of the banking arena, namely by currency trading companies.
In a previous interview to Calcalist, Leverate joint CEO Doron Cohen said, "Previously, private investors who worked from home would get foreign currency rates feeds from their investment brokers but exchange rates were vulnerable to manipulations and allowed brokers to take positions against their clients.
Saxo is an online bank specializing in electronic trading, of currency, bonds and options. Saxo's revenues for 2010 totaled some $600 million.
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