FXCM’s institutional arm is now onboarding clients with FlexTrade System’s MaxxTrader solution following the successful integration that was originally announced last year. FXCM Pro was initially co-located across the LD4 center, but MaxxTrader plans to expand its reach to all major hosting hubs, including NY4, TY3, and SG1.
The partnership will also support FXCM Pro’s team in growing out a new value proposition for new and existing clients. MaxxTrader offers multi-bank streaming capabilities, as well as STP and white label FX trading systems, to process client NDFs, spot currencies, and precious metals.
FlexTrade’s solution also supplements FXCM’s existing liquidity and execution solutions, giving its clients the opportunity to connect to a wide range of service providers. The platform offers real-time prime broker reporting, an integrated OMS to manage orders, and aggregated liquidity from more than 50 banks, ECNS and exchanges.
Better execution and cost-savings
The core of the integration of FXCM Pro into MaxxTrader consists of a front-end solution allowing orders to trade directly from client to client, directly with the trading desk, or back-to-back with all liquidity providers.
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FXCM Pro is the group’s agency trading service aimed at middle-market hedge funds and financial institutions. Leveraging over $100 billion in monthly trading volume, FXCM Pro gives clients access to global top-tier banks using their own lines of credit.
FlexTrade’s product suite offers access to market data providers while easily integrating with any order management system (OMS) via FIX and API. Global investment managers prefer the solution since the consolidation of equities, FX, listed options, futures, or any combination is essential on the same platform in order to ensure smooth functioning. The multi-asset execution management system can also be tailored for global access to broker algorithms, as well as the ability to build proprietary algorithms.
Mario Sanchez, Global Head of FXCM Pro Sales, commented: “When we began working with FlexTrade late last year, our aim was to leverage its innovative technology to provide an efficient trading experience for our FXCM Pro customers. By beginning the process of onboarding clients to LD4, we are taking the next steps in the journey of our partnership and realising our initial aim. Through this partnership, we will be able to provide our customers with enhanced trading execution alongside significant cost-savings through low-latency solutions.”