Exclusive: Ex-JP Morgan Lawyer David Andrews Launches Atom8, A New ECN in London

Even in today's very high technology international environment, London remains synonymous with established, large scale and traditional financial institutions whose history often dates back to the industrial revolution.

As electronic trading made its entry into the financial markets, the major industry participants in London were large and well-capitalized, and quickly encompassed institutional FX client bases, 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 provision to FX firms and the foundation of dedicated service providers to the FX industry.

It is therefore a point of interest when a new ECN with a different ethos to that of the establishment enters such a market which is populated by giants, today's launch of Atom8 being a case in point.

Atom8's official launch today also follows the line of thinking which is emerging among a number of newly established firms, that London is a highly attractive location, despite the high operating costs and immense competition. Last month, a number of retail FX firms also headed to London in order to establish European operations, even after having been granted a CySec license, eschewing the Cypriot bridge to Europe facilitated under MiFID's passport option immediately in favor of the security of London's financial district.

Regulated by the Financial Conduct Authority, Atom8 defines itself as a technology-focused ECN FX and spread betting broker which places an emphasis on automation.

Algorithmic Toolkit

As part of the firm's interest in technological development, Atom8 arrives on the market with its new Atom8 Trader Pro Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term which is licensed from a software firm, which facilitates FX, CFD and spread betting as is often the case in the UK, however it also provides an algorithmic toolkit allowing institutional and private traders to interact in the same market.

The company has been co-founded by David Andrews who has assumed the position as CEO, and previously served as a commercial lawyer at JP Morgan where he worked within the cross-asset exotic OTC and securitized derivatives legal team.

Speaking on the launch of the new ECN, Mr. Andrews confirmed to Forex Magnates that Atom8 will provide spread betting with raw spread, as well as FX/CFD accounts, free automated algorithmic coding services for private clients, as well as customizable multi-currency PAMM facilities, FIX API and an anonymous multi-API-configured ECN access for institutions, with low latency connectivity.

Mr. Andrews considers that the new platform is intended to provide substantial enhancements to traditional liquidity arrangements for both institutional investors and private traders, and allows clients to place orders directly into the ECN pool, essentially acting as a market maker themselves, thus avoiding paying the spread.

Atom8 currently offers up to 50 currency pairs, as well as gold and silver, with spread only or commission only accounts, which can be traded via the desktop, as well as mobile and tablet-based platforms.

Spread Betting - Without The Spread

“Atom8 aims to be the broker that popularises and democratises automated trading in the UK and abroad. Its technological superiority and desire to see its clients succeed in the challenging FX market should make Atom8 a natural choice for serious traders,” Mr. Andrews explained to Forex Magnates today.

“Our ability to create a bespoke client offering based on market-leading execution, liquidity, pricing and FX-focused trading platforms will make our platform the only one clients will want or need."

"The practical difference for traders is palpable. ECN raw spread spread betting for UK clients and free automated algorithmic coding services are some of the revolutionary services Atom8 already delivers to its UK and international client base,” concluded Mr. Andrews.