New solution reselling liquidity and platform execution capabilities in a cost-competitive offering emerges, while an additional product seeks to capture fleeting arbitrage opportunities detected as market "leaks."
Forex Technologies Inc.(FTI), under the brand FTPrime and based in New York, has launched a gateway directly into the inter-bank market for individuals and small to midsize trading firms, and appears to be the latest company to emerge in this space, as per the company’s official press release today.
The company has several industry veterans on its executive team who have worked at numerous platform providers and technology developers, as per the FTPrime.com website, and all of whom have held senior positions at ACT Forex - a long time running foreign exchange platform developer still used by a respectable number of retail FX firms. The trio now consists of FTIs, CEO, COO and CTO according to the 'About Us' section of the FTI website.
Ex-ACT Forex Executives Join Forces at FTI
The new offering under the FTPrime brand was described in the press release as an ultimate suite of services that combines technology, Liquidity and prime brokerage to offer Forex traders both large and small unprecedented access to the inter-bank market, by leveling the playing field for participants regardless of their account size.
In addition, the company said most existing STP Liquidity Providers do not provide prime brokerage/credit services, and most existing prime brokers do not offer execution platforms, and how FTPrime balances this difference by catering on both sides with a competitively priced offering normally reserved for much larger, highly capitalized entities. This is packaged in an offering of various retail FX platforms at a transaction cost of $6 per $1 Million traded, as described in the announcement.
FTPrime CEO, Anatoly Tkach, said in the official press release, "We’re proud to finally offer a solution that is specifically focused on the market players who are unable to meet capitalization values required by major prime brokers and government regulatory bodies."
The company mentions that it provides direct access via the Graphical User Interface (GUI) or Financial Information Exchange (FIX) api, of platforms such as Currenex, MetaTrader4, Fortex and VTtrader, and these capabilities are offered to money managers and brokerages looking to white-label the platforms, combined with the company's prime of prime solution where client funds are held at Advanced Markets or FCStone, as an example.
Existing Trend: Reselling Solutions in Custom Offering
The company lists a number of other strategic partners as it looks to combine its reselling capabilities in a cross connected environment provided within its offering. The ongoing synergies and combination of solutions from a wide array of companies appear to be aimed at providing the best of each solution, rather than a complete solution devoid of 3rd party reliance.
It will be interesting to see how FTPrime fares as its pricing model at barely $6 per million could appeal as it competes with a large number of companies which have already joined this growing space of prime of prime providers. Given the team's experience in overseeing technology development, this could be their edge, as compared with a non-technology developer focused re-seller. And as can be seen below, the company appears to be involved in other dimensions of financial services product offerings.
While investigating the above news, Forex Magnates discovered a link on FTPrime.com redirecting to TForex.com, short for TechForex, and also a trading name of Forex Technologies Inc.
One of the products listed on that page is called O'TRADE, short for Opportunity Trade, which describes a product designed to arb the FX market, by taking advantage of detected arbitrage opportunities and created after FTI was founded in 2011, and described as follows:
"The O’TRADE’s concept of Cyclic Trading employs the cross currency arbitrage on the price discrepancy among three or more different currencies in the foreign exchange market. The arbitrage strategy involves a chain of trades, exchanging the initial currency for a second, the second currency for a third, and so on, and the last currency for the initial."
While cross currency arbitrage is also considered a form of statistical arbitrage, which in theory makes perfect sense with such fleeting opportunities existing day-to-day in the FX markets, it may be harder to execute in practice as such latency driven approaches could be less scalable if a large number of traders join a particular strategy or given signal, in Forex Magnates' opinion. Below is an excerpt of a diagram depicting a cyclical arbitrage scenario, as seen on Otradefx.com, using equities denominated in various currencies (such as might be common in a dual-listing or ADR):
Forex Technologies Inc.(FTI), under the brand FTPrime and based in New York, has launched a gateway directly into the inter-bank market for individuals and small to midsize trading firms, and appears to be the latest company to emerge in this space, as per the company’s official press release today.
The company has several industry veterans on its executive team who have worked at numerous platform providers and technology developers, as per the FTPrime.com website, and all of whom have held senior positions at ACT Forex - a long time running foreign exchange platform developer still used by a respectable number of retail FX firms. The trio now consists of FTIs, CEO, COO and CTO according to the 'About Us' section of the FTI website.
Ex-ACT Forex Executives Join Forces at FTI
The new offering under the FTPrime brand was described in the press release as an ultimate suite of services that combines technology, Liquidity and prime brokerage to offer Forex traders both large and small unprecedented access to the inter-bank market, by leveling the playing field for participants regardless of their account size.
In addition, the company said most existing STP Liquidity Providers do not provide prime brokerage/credit services, and most existing prime brokers do not offer execution platforms, and how FTPrime balances this difference by catering on both sides with a competitively priced offering normally reserved for much larger, highly capitalized entities. This is packaged in an offering of various retail FX platforms at a transaction cost of $6 per $1 Million traded, as described in the announcement.
FTPrime CEO, Anatoly Tkach, said in the official press release, "We’re proud to finally offer a solution that is specifically focused on the market players who are unable to meet capitalization values required by major prime brokers and government regulatory bodies."
The company mentions that it provides direct access via the Graphical User Interface (GUI) or Financial Information Exchange (FIX) api, of platforms such as Currenex, MetaTrader4, Fortex and VTtrader, and these capabilities are offered to money managers and brokerages looking to white-label the platforms, combined with the company's prime of prime solution where client funds are held at Advanced Markets or FCStone, as an example.
Existing Trend: Reselling Solutions in Custom Offering
The company lists a number of other strategic partners as it looks to combine its reselling capabilities in a cross connected environment provided within its offering. The ongoing synergies and combination of solutions from a wide array of companies appear to be aimed at providing the best of each solution, rather than a complete solution devoid of 3rd party reliance.
It will be interesting to see how FTPrime fares as its pricing model at barely $6 per million could appeal as it competes with a large number of companies which have already joined this growing space of prime of prime providers. Given the team's experience in overseeing technology development, this could be their edge, as compared with a non-technology developer focused re-seller. And as can be seen below, the company appears to be involved in other dimensions of financial services product offerings.
While investigating the above news, Forex Magnates discovered a link on FTPrime.com redirecting to TForex.com, short for TechForex, and also a trading name of Forex Technologies Inc.
One of the products listed on that page is called O'TRADE, short for Opportunity Trade, which describes a product designed to arb the FX market, by taking advantage of detected arbitrage opportunities and created after FTI was founded in 2011, and described as follows:
"The O’TRADE’s concept of Cyclic Trading employs the cross currency arbitrage on the price discrepancy among three or more different currencies in the foreign exchange market. The arbitrage strategy involves a chain of trades, exchanging the initial currency for a second, the second currency for a third, and so on, and the last currency for the initial."
While cross currency arbitrage is also considered a form of statistical arbitrage, which in theory makes perfect sense with such fleeting opportunities existing day-to-day in the FX markets, it may be harder to execute in practice as such latency driven approaches could be less scalable if a large number of traders join a particular strategy or given signal, in Forex Magnates' opinion. Below is an excerpt of a diagram depicting a cyclical arbitrage scenario, as seen on Otradefx.com, using equities denominated in various currencies (such as might be common in a dual-listing or ADR):
Interactive Brokers Settles Nasdaq Charges, Agrees to $475,000 Fine
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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