Tullet Prebon’s Chapdelaine FX division, responsible for the company’s institutional FX business, has announced that it is partnering with First Derivatives for the first liquidity hub service developed by an interdealer broker.
In teaming up with one of the leading companies for delivering cross-platform and multiple-system solutions for the financial industry, Chapdelaine FX aims to provide a service that incorporates a broader client access through application providing interfaces (APIs). The new liquidity hub will support a multitude of proprietary and third party graphic user interfaces (GUIs), electronic communication networks (ECNs) and Exchanges.
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Aggregated rates from the top liquidity providers will provide a wider liquidity access, while the variety of GUIs could appease each of the company’s clients’ needs. The solution will work both ways as First Derivatives’ clients will also have the ability to access data from Chapdelaine FX’s customer base.
First Derivatives’ Delta Flow liquidity management solution is certified with ISO9001:2000 and SAS70 standards and already provides the company’s clients with deep liquidity and best execution prices. In the press release that accompanied the announcement, FD’s Managing Director, John Beckert said that “The solution enhances the trading experience for both liquidity providers and clients. As well as servicing Chapdelaine FX’s franchise, the liquidity solution provides instant compatibility with financial services firms using the Delta Flow platform for the purposes of establishing maker/taker liquidity relationships.”
Douglas Borthwick, Managing Director, Desk Manager & Broker on the Chapdelaine FX desk, added that “With the strategic alignment with First Derivatives, we are bringing together two large industry leaders to offer a solution that provides each of our firms with opportunities to expand our business, while creating a more efficient and directly accessible marketplace for our clients.”