INTL FCStone to Offer Spotex’s ECN to Clients via PoP Offering
- INTL’s clients will have access from an additional venue to access competitive spot pricing.
Spotex, a developer of foreign exchange (forex) technology solutions, announced this Monday that it has partnered with INTL FCStone Markets, LLC. Under the agreement, Spotex’s institutional electronic communication network (ECN) will be available from INTL’s prime of prime offering.
Spotex is based in New Jersey in the United States. The company’s ECN uses proprietary, performance-based matching logic to optimize top-of-book Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term. Furthermore, it runs on a true 24/5 schedule, the statement said.
The US-based ECN focuses on FX and precious metals trading for both the buy and sell-side participants. Spotex offers Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term technologies that build and apply quantitative metrics to participants based on their trading behavior.
Commenting on the partnership, Fred Allatt, Managing Director – North America FX Sales, INTL FCStone Markets, LLC said: “We are excited about the opportunity to offer Spotex as an additional ECN within our prime of prime offering."
“Our client base of professional traders, hedge funds, CTA’s and broker dealers will benefit from having this additional venue to access competitive spot pricing and superior technology, while utilizing INTL FCStone Markets, LLC as their financial intermediary. We look forward to growing our relationship with the Spotex team.”
Spotex to launch new products for brokers
The announcement made today comes at a time when Spotex is launching new products and services, which will be available to the brokerage and fund manager market segments.
As Finance Magnates reported, only last month, the company launched a new multilevel credit and margin management module. Called Periscope, the service enables prime brokers and prime-of-prime brokers (PoPs) to extend credit and margin to multiple levels of downstream, sub-brokers.
“We look forward to working with INTL FCStone Markets, LLC to expand access to our ECN from brokers, fund managers and other institutional market participants,” added John Miesner, the recently appointed Chief Executive Officer of Spotex.
“We see the Spotex ECN’s combination of uncorrelated trade flows and its robust, low-latency matching technology providing value to INTL FCStone Markets, LLC clients across the globe.”
Spotex, a developer of foreign exchange (forex) technology solutions, announced this Monday that it has partnered with INTL FCStone Markets, LLC. Under the agreement, Spotex’s institutional electronic communication network (ECN) will be available from INTL’s prime of prime offering.
Spotex is based in New Jersey in the United States. The company’s ECN uses proprietary, performance-based matching logic to optimize top-of-book Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term. Furthermore, it runs on a true 24/5 schedule, the statement said.
The US-based ECN focuses on FX and precious metals trading for both the buy and sell-side participants. Spotex offers Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term technologies that build and apply quantitative metrics to participants based on their trading behavior.
Commenting on the partnership, Fred Allatt, Managing Director – North America FX Sales, INTL FCStone Markets, LLC said: “We are excited about the opportunity to offer Spotex as an additional ECN within our prime of prime offering."
“Our client base of professional traders, hedge funds, CTA’s and broker dealers will benefit from having this additional venue to access competitive spot pricing and superior technology, while utilizing INTL FCStone Markets, LLC as their financial intermediary. We look forward to growing our relationship with the Spotex team.”
Spotex to launch new products for brokers
The announcement made today comes at a time when Spotex is launching new products and services, which will be available to the brokerage and fund manager market segments.
As Finance Magnates reported, only last month, the company launched a new multilevel credit and margin management module. Called Periscope, the service enables prime brokers and prime-of-prime brokers (PoPs) to extend credit and margin to multiple levels of downstream, sub-brokers.
“We look forward to working with INTL FCStone Markets, LLC to expand access to our ECN from brokers, fund managers and other institutional market participants,” added John Miesner, the recently appointed Chief Executive Officer of Spotex.
“We see the Spotex ECN’s combination of uncorrelated trade flows and its robust, low-latency matching technology providing value to INTL FCStone Markets, LLC clients across the globe.”