An FCA-regulated company led by Francesco Porcu, Black Pearl Securities, is launching a new prime of prime initiative which is part of a major rebranding. The firm is known in the industry for its retail brokerage arm BlackpearlFX.
The firm has an XCore setup with PrimeXM and delivers its services via the industry standard FIX protocol. The company has dedicated sales and support teams based in London and Shanghai and is offering its clients STP execution.
Commenting on the launch to Finance Magnates, BP Prime CEO Francesco Porcu said: “We already have a solid customer base of brokers around the world that are using our liquidity. Our goal is to accept all types of clients that are looking for a solution at an affordable price. All of the flow goes to LPs that we have selected carefully over the years leading to this launch. We aggregate the flow internally thanks to our partnership with PrimeXM.”
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The company is starting with FX, CFDs on 14 major indices, and six commodities, in addition to working on delivering to the market its cryptocurrency offering.
“Our liquidity comes from different sources, and all trades are executed via STP execution in milliseconds. BP Prime does not use a dealing desk so our clients can focus on trading the markets and not against brokers. We are an IFPRU 125K firm and all trades are instantly matched with our LPs,” explained Mr Porcu.
The firm’s dedicated teams in Europe and Asia, along with its FCA license, are significant assets when on-boarding new clients. The regulatory headwinds in Europe that have engulfed the industry in recent years have prompted a response from brokers, which are starting to target more experienced traders.
BP Prime’s focus on the institutional side of business comes as a natural transition since the company has already set up some partnerships, especially in the booming Southeast Asia region.