Brazilian financial exchange operator B3 has accredited UK brokerage Infinox Capital to provide liquidity and to act as a market maker for its listed US Treasuries and FX Futures.
As a market maker on the B3 Exchange, Infinox Capital will offer simultaneous bid and offer prices in selected securities listed on the exchange as part of its market-making services. The agreement intends to further strengthen liquidity, pricing, and market depth offered to the bourse’s investors.
With the B3’s new product launch, Brazilian investors are able to trade several currencies against the US Dollar, such as GBPUSD, AUDUSD, NZDUSD, EURUSD, USDCAD, USDJPY as well as the Scandinavian pairs (USDNOK and USDSEK) and also place positions in the 10 Year US notes.
The B3 was the world’s third-largest derivatives exchange by volume in 2019, with over 1.5 million active accounts.
London-headquartered INFINOX has been extending its liquidity distribution, most recently signing Gold-i’s Matrix Net as an additional channel. This accord makes its multi-asset liquidity available to brokers worldwide who use Gold-i’s Matrix, MT4 Bridge, and MT5 Gateway products.
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INFINOX has also released its new trading platform for multiple assets, including contracts for differences (CFDs) – IXO.
INFINOX delves into a growing brokerage market
Commenting in the news, INFINOX CEO Robert Berkeley, said: “Treasury Notes without having to send their funds out of the country or be subjected to foreign regulation. The B3 is also a trustworthy, strong and reliable counterparty for all trades. We will do our best efforts to connect Brazilians to the highest liquid market in the world.”
INFINOX is seeking to secure its chunk in a growing brokerage business in Brazil. The country’s largest stockbroker, XP Inc., had a total revenue of $820 million in the first nine months through September 2019, while its net income was reported at $164.90 million. Further, according to its filing, it has more than 1.5 million clients and $84 billion in assets under custody.
Last year, some bankers had floated a potential $15 billion valuation for the company. However, the volatility in the stock market makes it harder for banks to gauge where they should price the offering even for a company as big as XP.
INFINOX Capital Ltd is a London-based brokerage regulated by the Financial Conduct Authority (FCA). The company offers its clients in the UK and EU to trade a range of assets, including forex, equities, and commodities.