FXCM Group and Jefferies Expand their FX Prime Brokerage Relationship
- Sharing common ownership interest, the firms are integrating their PB relationship on a deeper level
The majority owner of FXCM Group, whose prime brokerage division is headed by former FXCM star Brandon Mulvihill is entering into an expansion of their FX prime brokerage partnership. The announcement is further expanding the synergies between the full-service global investment banking firm and the brokerage company that owns FXCM UK and the Australia-based branch of the brand.
“Jefferies is quickly becoming a preeminent service provider in the prime brokerage space and we’re very happy to be expanding our relationship with them. This is yet another way that our membership in the Leucadia family of companies helps FXCM improve the service we provide our clients,” commented Brendan Callan, CEO of FXCM Group.
The Global Head of the FX Prime Brokerage at Jefferies, Brandon Mulvihill, elaborated, “Jefferies is committed to addressing the credit gap in FX prime brokerage and our efforts within the broker community is reflected in this win.”
Securing a Strong PB Relationship Key to Long-Term Business
In the aftermath of the Swiss National Bank (SNB) shock which changed PB relationships between firms, retail and institutional brokers alike have had a harder time securing credit lines with major prime brokerages.
FXCM is at a significant competitive advantage due to its close relationship with a major prime broker like Jefferies. The investment banking subsidiary of the majority owner of FXCM Group, Leucadia National, launched its FX PB unit only last year, after hiring Brandon Mulvhill who previously was heading FXCM Pro.
The extension of the relationship between FXCM and Jefferies signifies better 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 access for the firm’s clients at a time when FX Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term could rise materially any minute after years of subdued activity on the market.
The majority owner of FXCM Group, whose prime brokerage division is headed by former FXCM star Brandon Mulvihill is entering into an expansion of their FX prime brokerage partnership. The announcement is further expanding the synergies between the full-service global investment banking firm and the brokerage company that owns FXCM UK and the Australia-based branch of the brand.
“Jefferies is quickly becoming a preeminent service provider in the prime brokerage space and we’re very happy to be expanding our relationship with them. This is yet another way that our membership in the Leucadia family of companies helps FXCM improve the service we provide our clients,” commented Brendan Callan, CEO of FXCM Group.
The Global Head of the FX Prime Brokerage at Jefferies, Brandon Mulvihill, elaborated, “Jefferies is committed to addressing the credit gap in FX prime brokerage and our efforts within the broker community is reflected in this win.”
Securing a Strong PB Relationship Key to Long-Term Business
In the aftermath of the Swiss National Bank (SNB) shock which changed PB relationships between firms, retail and institutional brokers alike have had a harder time securing credit lines with major prime brokerages.
FXCM is at a significant competitive advantage due to its close relationship with a major prime broker like Jefferies. The investment banking subsidiary of the majority owner of FXCM Group, Leucadia National, launched its FX PB unit only last year, after hiring Brandon Mulvhill who previously was heading FXCM Pro.
The extension of the relationship between FXCM and Jefferies signifies better 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 access for the firm’s clients at a time when FX Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term could rise materially any minute after years of subdued activity on the market.