Seabury Global Markets LLC (SGM), a subsidiary of Seabury Capital and comprehensive provider of foreign exchange (FX) liquidity management and trade execution solutions, has launched a new partnership between Spotex, and SBI FX Co., Limited, a wholly-owned subsidiary of Japan’s leading online securities firm SBI Holdings.
In particular, SGM has had its solutions selected by BYFX, the trading name of SBI FX Co., Limited, having recently launched a new leveraged FX business in Hong Kong. The deal also entails working with Spotex, an FX ECN for both institutions and retail brokers in its own right, that will also have its product suite utilized by BYFX.
The latest announcement builds off of an existing accord between SGM and Spotex, which entered into a multi-year strategic relationship last year, ultimately paving the way for Spotex to become a part of the Seabury Group of Companies.
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Overall, SGM will be providing end-to-end technology across the SBI’s entire product suite that covers ECN and peer-to-peer liquidity, back office systems, margin and credit modules, as well as MT4 bridging technology. The deal is noteworthy as BYFX is the first SBI Holdings overseas business unit to directly target clients outside of Japan – the SBI Holdings brand has previously held a primary focus in the Chinese market.
According to Andre Monza, Seabury Global Markets Managing Director and Head of Asia, in a statement on the accord: “This is a phenomenal opportunity for Seabury Global Markets and Spotex to collaborate with a world-class organization like SBI Holdings and BYFX in the Asian region.”
“The strong interest between our companies to apply cutting-edge technology, decades of combined experience in FX and precious metals and BYFX’s plan to rapidly extend innovation into the Asian marketplace offer us a chance to help reshape the current landscape and create a lasting impact in the region,” he added.
“We’re very excited to be working with SBI Holdings and BYFX to deliver an end-to-end FX trading and white label solution combined with an execution capability that spans the globe. Our companies’ offering will benefit buy and sell side clients and retail brokers looking for better liquidity and a sophisticated white label product,” noted Spotex Chief Executive Officer, Ritesh Agrawal.