TrueFX Adds Straits Financial as a Member of Clearing Network
- The company will benefit from the enhanced liquidity from the network of companies.
Singapore-based Straits Financial Services Pte Ltd has become a clearing member of TrueFX, an over-the-counter (OTC) market for the buy-side, to enhance its clients’ access to Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this TermLiquidity 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.
TrueFX is a spot trading facility built using the technology of Integral. TrueFX Clearing Member (TCM) network was launched in 2020 to allow buy-side firms of all sizes to directly access liquidity on TrueFX from leading market makers without an intermediary.
TrueFX uses Jefferies FX Prime Brokerage as the central credit counterparty, and TCM members also have the option to clear traders through Jefferies.
Straits Financial, as a TCM member, will benefit from all liquidity services offered by the OTC platform. Additionally, Straits can access all market makers on the venue and can receive customized pricing as well.
Commenting on the development, Raymond Mok, Straits’ Global Head of FX said: “As a leading financial institution in Asia, we want to provide our institutional clients with fair, transparent and efficient access to the market. TrueFX aligns with these values, and we are pleased to join the network as a clearing member and demonstrate our commitment to this exciting initiative.”
Enhancing Liquidity
Established in 2011, Straits Financial’s offerings range from derivatives to OTC products. The platform has a presence in the United States, China, Dubai and Indonesia and is a full clearing member of the CME Group exchanges.
Several capital market players have joined the TCM network since the launch including Sucden Financial.
“The size and scale of our growing clearing network allow us to offer significant cost savings to even more clients, brought around by the venue’s integrated liquidity, clearing and technology,” said Harpal Sandhu, CEO of Integral and technology provider for TrueFX.
“We are thrilled that Straits Financial has joined as a clearing member, and their participation will greatly enhance the offering available to clients.”
Singapore-based Straits Financial Services Pte Ltd has become a clearing member of TrueFX, an over-the-counter (OTC) market for the buy-side, to enhance its clients’ access to Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this TermLiquidity 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.
TrueFX is a spot trading facility built using the technology of Integral. TrueFX Clearing Member (TCM) network was launched in 2020 to allow buy-side firms of all sizes to directly access liquidity on TrueFX from leading market makers without an intermediary.
TrueFX uses Jefferies FX Prime Brokerage as the central credit counterparty, and TCM members also have the option to clear traders through Jefferies.
Straits Financial, as a TCM member, will benefit from all liquidity services offered by the OTC platform. Additionally, Straits can access all market makers on the venue and can receive customized pricing as well.
Commenting on the development, Raymond Mok, Straits’ Global Head of FX said: “As a leading financial institution in Asia, we want to provide our institutional clients with fair, transparent and efficient access to the market. TrueFX aligns with these values, and we are pleased to join the network as a clearing member and demonstrate our commitment to this exciting initiative.”
Enhancing Liquidity
Established in 2011, Straits Financial’s offerings range from derivatives to OTC products. The platform has a presence in the United States, China, Dubai and Indonesia and is a full clearing member of the CME Group exchanges.
Several capital market players have joined the TCM network since the launch including Sucden Financial.
“The size and scale of our growing clearing network allow us to offer significant cost savings to even more clients, brought around by the venue’s integrated liquidity, clearing and technology,” said Harpal Sandhu, CEO of Integral and technology provider for TrueFX.
“We are thrilled that Straits Financial has joined as a clearing member, and their participation will greatly enhance the offering available to clients.”