Exclusive: GTX Expands Prime Services as ADV Closes on $2b

GTX, the prime business of the institutional arm of GAIN Capital, is expanding its team in Asia, Finance Magnates has confirmed with the company. The strategic hires which the company is making are part of the broker’s global expansion plans.

GTX recently launched matching engines in London and Tokyo, which has greatly improved the competitiveness of the GTX Direct prime service. The company is offering the service to retail brokers, corporations, hedge funds, proprietary trading desks and high net worth individuals, offering Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term in spot foreign exchange and metals.

[gptAdvertisement]

Looking at the company's Asian operations, GTX recently hired Ivan Wong, who worked previously at EBS, Integral and Barclays, and Joshua Yeo, who worked previously at Hotspot, Trading Screen and ANZ.

“With recent strategic hires as well as the launch of our Tokyo matching engine, we have the infrastructure and personnel to provide the highest level of support to clients in the APAC region,” said Vincent Sangiovanni, CEO of GTX.

GTX Direct accounted for over $1.85 billion in average daily volume (ADV) in January 2017, which is up by 670 per cent when compared to the same month last year.

The service supports multilateral trading on the ECN and direct trading with banks, non-bank Liquidity Providers Liquidity Providers A liquidity provider (LP) constitutes either individual and/or institution that functions as a market maker in a given asset class. Broadly speaking, liquidity providers will act as the both the buyer and seller of a particular asset, thus making a market. In the equities space, many stock exchanges rely on liquidity providers who make the commitment to provide liquidity in a given equity. These liquidity providers commit to providing liquidity in the hopes that they will be able to make a profi A liquidity provider (LP) constitutes either individual and/or institution that functions as a market maker in a given asset class. Broadly speaking, liquidity providers will act as the both the buyer and seller of a particular asset, thus making a market. In the equities space, many stock exchanges rely on liquidity providers who make the commitment to provide liquidity in a given equity. These liquidity providers commit to providing liquidity in the hopes that they will be able to make a profi Read this Term and other counter-parties.

Earlier this year in January, the GTX ECN set a new trading volumes record of more than $12 billion in ADV. According to the company, the increase was partly driven by the launch of the ECN’s London matching engine in November 2016. The company launched its Tokyo matching engine on January 31st of this year.