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Forex International Trading Corp. Signs Joint Venture Agreement with Heffernan Capital Ltd.



Date :

07/20/2011 @ 9:00AM



Source :

Business Wire



Stock :

Forex International Trading Corp. (FXIT)



Quote :

0.1 0.0 (0.00%) @ 11:37AM













Forex International Trading Corp. Signs Joint Venture Agreement with Heffernan Capital Ltd.









Forex Intl Trading (OTCBB:FXIT)
Historical Stock Chart

1 Month : June 2011 to July 2011

Forex International Trading Corp. (the "Company") (OTCBB:FXIT), today announced a joint venture with Heffernan Capital Ltd. The purpose of the joint venture is to promote the www.4xint.com site throughout Asia.

This Joint Venture is being tested for six months to determine the market opportunity in the Asia market. While Singapore has represented a strong market for the Triple 8 platforms, the Company has not focused its marketing efforts in other countries in the region.

Forex International Trading has chosen Heffernan Capital Ltd. to partner with to market in this region because of their strong reputation and web presence in this region. In fact, one of Heffernan Capital’s websites www.livetradingnews.com ranks 515 in South Korea on www.alexa.com which places it higher than www.fidelity.com, www.morganstanley.com, www.barclays.co.uk and www.bankofamerica.com.

Forex International Trading CEO Darren Dunckel commented “I am excited to partner with such well respected names in the financial services industry.” Issaree Suwunnavid CEO of Heffernan Capital said, “Foreign Exchange, Gold and Commodity Trading are extremely popular in Asia and we will be building out multilingual services to capture that market. The reach that the new web platforms provide should provide us with exposure that will help us to execute our business plan in the Asian region.”

The site www.4xint.com will continue to block traffic from the United States while the Company continues to develop its strategy for the United States.

About Heffernan Capital Management

Heffernan Capital Management aims to become one of the world's leading asset management enterprises. It specializes in global investment management, risk management and advisory services to institutional, intermediary and individual investors around the world. Heffernan Capital Management offers a range of solutions, from proprietary active management approaches aimed at delivering true outperformance to algorithmic indexing strategies designed to manage broad exposure to the world's capital markets. Heffernan Capital Management brings investment solutions through a wide variety of product structures, including individual and institutional separate accounts, mutual funds and other pooled investment vehicles, and the industry-leading trading platform Heffernan Capital Management Direct. The foundation of our business is to deliver the best for our clients, every time.

Heffernan Capital Management combines specific market insights, global reach and scale, proprietary technology, strong local knowledge and ability to deliver performance in all market environments. Its goal is always striving to achieve the best balance between risk and opportunity. It is a global firm with our roots in the Emerging Markets of Asia; that combines the benefits of worldwide reach with local service and relationships.

About Forex International Trading Corp.

Headquartered in New York, NY, Forex International Trading Corp. operates an offshore advanced online trading platform for Forex markets to non U.S. residents. The Company focuses on providing individual and institutional investors with a platform for buying and selling currencies, precious metals and commodity futures. The company’s platforms allow self-directed, broker-assisted, and managed accounts. Through the platforms, customers have access to over 20 currencies and bullion deliveries. The Foreign Currency Market ("Forex" or "FX") is created by the global exchange of currencies. According to the Bank for International Settlements, the average daily turnover, or, volume in the Global FX market in April 2010 was $4 Trillion compared to only $1.2 Trillion in 2001 (Wall Street Journal, Sept. 1, 2010). Historically, access to the FX market was only available to governments, commercial banks, corporations, and other large financial institutions. The Company is now capitalizing on the growth of online currency trading through its state of the art web-based trading platforms.

For more information, please visit: http://www.forex-international-trading.com.

Forward-Looking Statements: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others, whether Forex International Trading Corp. can successfully execute its operating plan; its ability to integrate acquired companies and technology; its ability to retain key employees; its ability to successfully combine product offerings and customer acceptance of combined products; general market conditions; and whether Forex International Trading Corp. can successfully develop new products and the degree to which these gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. Forex International Trading Corp. does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.