FXCM’s institutional arm, FXCM Pro and trading technology provider, Integral have joined hands to launch a centrally cleared platform for contracts for differences (CFDs), thus further expanding their services for institutional and professional clients.
Announced on Wednesday, the CFDs prime platform is offering services like consolidated margin, account opening and netting. The companies claim that the consolidated services will reduce transacting costs.
“We are committed to upgrading the trading experiences of our clients, and our new CFD Prime service is the latest in the long line of our innovations designed to do exactly that,” said Brendan Callan, CEO of FXCM Group.
FXCM Pro is offering prime brokerage services with its balance sheet and post-trade infrastructure. Integral, on the other hand, is providing the technologies, enabling the clients to use a single connection to get aggregated prices and transact with multiple liquidity providers without having to form multiple bilateral relationships.
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Also, Jump Trading joined the two companies to provide liquidity for the transactions as a market maker.
“Integral’s innovations have always been centered on providing clients with unrivalled access to credit and liquidity,” Harpal Sandhu, Founder and CEO of Integral, said. “Unlocking direct access to leading CFD market makers through a single credit and technology relationship is a big step forward in what has been a bilateral market, until now.”
Jump Trading’s Head of Business Development, Bo Bjurgert, added: “This innovation is a truly ground-breaking development in the CFD market structure. By enabling LPs and customers to trade directly with each other, without the burden of managing multiple bilateral relationships, traders of CFD products will realize significant liquidity and cost benefits.”