Fairex International Financial Systems (Fairex), a provider of e-commerce solutions in the area of foreign exchange and other treasury related products, has opened an office in Tokyo.

Hidetaka Kohashi has been named as vice president of sales - Japan. Based in Tokyo, Kohashi will be responsible for implementing sales and operational strategy, serving the company's existing client base and to launch its products, including Fairex BConnectÖ and Fairex B2BÖ systems, into the Japanese market.

Kohashi brings over 20 years of foreign exchange trading experience and an in-depth knowledge of international finance and IT solutions to Fairex. He has worked as a currency broker in the foreign exchange markets of Tokyo, London, Singapore and Hong Kong where he developed his interest in financial services IT. Kohashi was formerly with City Networks, Japan where he served as sales manager.

Singapore-based Fairex claims trading volumes of nearly $1 Billion per month through its system after a soft product launch in June 2001. The company offers a multi-bank trading system and an order book management system and counts Deutsche Bank, Keppel, Hantec International, Pacific Asset Management and Rothschild among its clients.

"The foreign exchange market is in the midst of a revolution," says Dr. Loh Wing Wah, co-founder and CEO of Fairex. "Recent entrants into the e-fx market have been battling for market share. Financial institutions have been scrambling to introduce new products and services that capitalize on the expansion."