Online retail and institutional brokerage ICM.com has announced that the company entered into a partnership deal with PrimeXM. The firm has tapped the services of the technology provider earlier this year.
ICM.com is now using Xcore to connect to more than 120 firms which are using the service as a liquidity aggregator. The brokerage company is aiming to extend its reach towards the individual clients and institutions that are looking for fast trading speed and ultra-low latency order routing.
The new partnership also provides the broker with access to its customers in a system that is sending real-time and post-trade reports to retail brokers.
“This new partnership will help Xcore to expand its liquidity distribution, whereas ICM.com will use this opportunity to provide first class trading experience to its new and existing clients,” the company said in a statement.
The Founder of ICM.com, Shoaib Abedi, says that that the broker is aiming to grow liquidity distribution opportunities globally.
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“Our new forged partnership with PrimeXM is very designed to improve access to our CFD and FX liquidity with new and existing ICM.com clients. We look forward to a long, successful relationship,” Abedi adds.
The company has two regulated subsidiaries in Europe with the UK FCA and the CySEC. ICM.com also has a regulated entity in the St Vincent and Grenadines.
Speaking with Finance Magnates last year, the firm’s founder Shoaib Abedi also shared that the company is heavily focused on expansion in the Middle East.
Following a year of tumultuous developments for the industry, brokers are looking for ways to become more competitive globally. ICM.com has been actively looking for ways to optimize its business since last year, when the firm became actively involved in geographic diversification.