KlickEx
Encyclopedia
KlickEx is a smart market
company whose "registered user only" interbank
retail systems include a patent pending Private electronic market
, providing low cost electronic foreign exchange
clearing services to selected clients Australia, New Zealand and the South Pacific.
From the Company Website:
KlickEx has operations in five countries, and in 2010, KlickEx reportedly filed regulatory applications to expand operations into the UK, Europe and South East Asia. In February 2011, SendMoneyPacific.org, a government initiative sponsored by NZAid
, AusAID and The World Bank, rated the Klick Exchange as the most efficient provider of foreign currency systems in Australia, New Zealand, Samoa and Tonga.
KlickEx operates an "advanced" settlement system that enables individuals and Partnership Banks to gain access to cross-border Foreign Currency clearing facilities.
It enables rapid foreign exchange settlement between accounts (delivering cleared funds across currencies in seconds), and micro-manages standing orders (for foreign exchange
) as little as $1.00. The network is independently regulated, and is currently deployed in New Zealand, Australia, and the South Pacific.
Over 80 million retail customers use their existing bank accounts to gain access to the network. "Participating Banks" - of which there are currently 7 "Linked" in the South Pacific - can generally be integrated in less than 3 weeks (lite version); retail clients (New Zealand, Australia, Tonga and Samoa only) have immediate access following a short approval and Anti-money laundering compliant process.
The micro-currency system provides members the facility to move both ultra-low-value and high-value quantities of foreign exchange through the foreign exchange markets - without traditional FX margins.
Instantaneous multi-regional transfers allow the proceeds of multi-currency settlements to be forwarded on electronically at bank-bank exchange rates, providing end users efficient access to overhead-free FX rates.
The sophisticated cash-flow and wealth management systems enable enhanced transparency and consumer security across a multi-currency platform.
, HSBC
, Microsoft
, Xero
and others, according to the company's "About Us" page.
The KlickEx system is based on trading technology that has been operational since 2002, and has completed over 19 million in-market trades in USD, AUD, NZD and GBP.
Through a regional partnership with the United Nations Development Program, and the Australian & New Zealand Governments in 2011; KlickEx has continued to build services and increase the financial 'technical stretch' underway in the Pacific - and further afield, by providing the platform for Mobile Carriers (MNO
) to integrate mobile wallet platforms into the established banking system; thereby accelerating the penetration of financial services to the unbanked
- particularly focusing on Rural communities, and financial inclusion
for women in developing economies .
KlickEx Head Office is based in Auckland, New Zealand and is a former resident of the "ICE-house" Innovation Centre, named one of Forbes Magazine's top 10 start-up incubation facilities in the world in 2010.
and the United Kingdom
, licensed in Samoa
and Tonga
, and operates under the ASIC AFSL Exemption code for operation in Australia
n currency.
Smart market
A "smart market" is a periodic auction which is cleared by the operations research technique of mathematical optimization, such as linear programming. The smart market is operated by a market manager. Trades are not bilateral, between pairs of people, but rather to or from a pool...
company whose "registered user only" interbank
Interbank
Interbank is a Peruvian provider of financial services.-History:In 1897, Elias Mujica opened an agency at Jiron de la Union in Lima's historical center under the name of Banco Internacional...
retail systems include a patent pending Private electronic market
Private electronic market
A private electronic market uses the Internet to connect a limited number or pre-qualified buyers or sellers in one market. PEMs are a hybrid between perfectly open markets A private electronic market (PEM) uses the Internet to connect a limited number or pre-qualified buyers or sellers in one...
, providing low cost electronic foreign exchange
Foreign exchange market
The foreign exchange market is a global, worldwide decentralized financial market for trading currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock, with the exception of weekends...
clearing services to selected clients Australia, New Zealand and the South Pacific.
From the Company Website:
KlickEx has operations in five countries, and in 2010, KlickEx reportedly filed regulatory applications to expand operations into the UK, Europe and South East Asia. In February 2011, SendMoneyPacific.org, a government initiative sponsored by NZAid
New Zealand Agency for International Development
The New Zealand Agency for International Development is the New Zealand Government's international aid and development agency. NZAID is a semi-autonomous body within the New Zealand Ministry of Foreign Affairs and Trade . Its Māori name is Nga Hoe Tuputupu-mai-tawhiti – the paddles that bring...
, AusAID and The World Bank, rated the Klick Exchange as the most efficient provider of foreign currency systems in Australia, New Zealand, Samoa and Tonga.
Business Summary
KlickEx has three core divisions:- A retail operation, providing payment services in the South Pacific www.KlickEx.com,
- An Institutional operation, connecting smaller banks to regional and world-wide clearing networks www.KlickEx.net/VOSnet, and
- NGO/Development operations, providing regulators and government agencies with statistical and compliance solutions www.KlickEx.org.
KlickEx operates an "advanced" settlement system that enables individuals and Partnership Banks to gain access to cross-border Foreign Currency clearing facilities.
It enables rapid foreign exchange settlement between accounts (delivering cleared funds across currencies in seconds), and micro-manages standing orders (for foreign exchange
Foreign exchange market
The foreign exchange market is a global, worldwide decentralized financial market for trading currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock, with the exception of weekends...
) as little as $1.00. The network is independently regulated, and is currently deployed in New Zealand, Australia, and the South Pacific.
Over 80 million retail customers use their existing bank accounts to gain access to the network. "Participating Banks" - of which there are currently 7 "Linked" in the South Pacific - can generally be integrated in less than 3 weeks (lite version); retail clients (New Zealand, Australia, Tonga and Samoa only) have immediate access following a short approval and Anti-money laundering compliant process.
Market Niche
KlickEx provides three core products to participants:- An open access Private electronic marketPrivate electronic marketA private electronic market uses the Internet to connect a limited number or pre-qualified buyers or sellers in one market. PEMs are a hybrid between perfectly open markets A private electronic market (PEM) uses the Internet to connect a limited number or pre-qualified buyers or sellers in one...
for multi-currency settlements. - Instantaneous multi-regional clearing, verification, and order forwarding.
- Sophisticated cashflow tracking services.
The micro-currency system provides members the facility to move both ultra-low-value and high-value quantities of foreign exchange through the foreign exchange markets - without traditional FX margins.
Instantaneous multi-regional transfers allow the proceeds of multi-currency settlements to be forwarded on electronically at bank-bank exchange rates, providing end users efficient access to overhead-free FX rates.
The sophisticated cash-flow and wealth management systems enable enhanced transparency and consumer security across a multi-currency platform.
Smart Market
A good overview is given in 'Smart Computer Assisted Markets'.Management team
KlickExs management team is drawn from IBMIBM
International Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...
, HSBC
HSBC
HSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...
, Microsoft
Microsoft
Microsoft Corporation is an American public multinational corporation headquartered in Redmond, Washington, USA that develops, manufactures, licenses, and supports a wide range of products and services predominantly related to computing through its various product divisions...
, Xero
Xero (software)
Xero is an online accounting software product for small and medium-sized businesses, as well as for personal finance. The product is sold by subscription requiring the payment of a monthly fee...
and others, according to the company's "About Us" page.
Corporate History and Development
KlickEx was developed in conjunction with New Zealand High-Net-Worth Asset Management firm UBNZ World Markets, online technology platform OneWay.co.nz. The name is derived from the title: The Klick Exchange Trading Company.The KlickEx system is based on trading technology that has been operational since 2002, and has completed over 19 million in-market trades in USD, AUD, NZD and GBP.
Through a regional partnership with the United Nations Development Program, and the Australian & New Zealand Governments in 2011; KlickEx has continued to build services and increase the financial 'technical stretch' underway in the Pacific - and further afield, by providing the platform for Mobile Carriers (MNO
Mno
mno is a file extension created by some web designing software like UltraDev or Dreamweaver. It often goes after the existing extension of the webpage , in effect creating a double extension, for instance, filename.html.mno....
) to integrate mobile wallet platforms into the established banking system; thereby accelerating the penetration of financial services to the unbanked
Unbanked
The unbanked are citizens of a country who do not have their own bank account. Along with the underbanked, they may rely on alternative financial services for their financial needs, where these are available.-The unbanked in the United States:...
- particularly focusing on Rural communities, and financial inclusion
Financial inclusion
Financial inclusion or inclusive financing is the delivery of financial services at affordable costs to sections of disadvantaged and low income segments of society. Unrestrained access to public goods and services is the sine qua non of an open and efficient society...
for women in developing economies .
KlickEx Head Office is based in Auckland, New Zealand and is a former resident of the "ICE-house" Innovation Centre, named one of Forbes Magazine's top 10 start-up incubation facilities in the world in 2010.
Registration
KlickEx is registered in New ZealandNew Zealand
New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...
and the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
, licensed in Samoa
Samoa
Samoa , officially the Independent State of Samoa, formerly known as Western Samoa is a country encompassing the western part of the Samoan Islands in the South Pacific Ocean. It became independent from New Zealand in 1962. The two main islands of Samoa are Upolu and one of the biggest islands in...
and Tonga
Tonga
Tonga, officially the Kingdom of Tonga , is a state and an archipelago in the South Pacific Ocean, comprising 176 islands scattered over of ocean in the South Pacific...
, and operates under the ASIC AFSL Exemption code for operation in Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
n currency.