The prime of prime part of the brokerage industry continues to become more and more competitive. The newest entrant into the space is Quantic Prime, which officially started operations at the beginning of the month.

The effort is a joint venture between AFX Group and IBANFIRST. The company has partnered up with SmartTrade to deliver its product to the retail and institutional market.

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The director of the project, Francois Nembrini, said of the partnership: “SmartTrade has both extensive connectivity options & flexible order routing workflows and  we have also been accepted by one of the largest PB’s with some of best credit lines in the industry.”

Commenting on the launch, the COO of AFX Group, Paolo Broccardo, said: “Opening an institutional agency desk was the next natural step to improve our services. The project required resources from multiple departments and was a great experience to complement our team’s know how.”

The company has increased its share capital and added another senior hire to its team. Quantic Prime onboarded Arnaud Clerisse from HSBC, where he spent about 10 years at the company’s FX desk.

“Arnaud has expertise in corporate overlay and can provide all the information our clients would require in order to help them decide when more sophisticated products can complement a simple spot position,” Nembrini explained.