“The service we plan to offer to our clients will hugely increase the income from our trading departments as well as add a new dimension to the services offered by Koyal Group” said Edward Neilson, Chief Executive Officer.
Head of Analysis Mr Nathan Andrews, said “as our traders are already trading currencies constantly, offering forex services to our clients is an idea that I have advocated for a long time so I’m really pleased that it has finally been agreed to by our directors”
The service itself will be made available only to research clients, i.e. in conjunction with other services and a minimum 12 month contract for this service will be mandatory. Mr Edward Neilson said “Of course we are making a significant investment in this venture and it is important to gauge the level of interest from our current clients, as well as ensure that our initial investment provides the company as well as the clients with strong returns”.
Essentially Koyal Group already examines a wealth of data on the global economies each day and does trade on the foreign exchange markets, but this is the first time the company has offered this particular service to its clientele.
According to Mr Joseph Samuels Jnr, Koyal Group’s Head of Principle Investments, a new department will be created to deal with the trading and advisory service, but the data itself and by and large the decision making process will remain as it is currently.
Koyal Group now aims to sign sufficient contracts with current clients to ensure the success of the service prior to the implementation of this new department, but provided this is realised in time, the service is scheduled to commence in January of 2014.