TrueFX, a purpose-built OTC market designed for the buy-side, today announced that Sucden Financial, a global multi-asset execution, clearing and liquidity provider, has joined as a TrueFX Clearing Member (TCM) to support their clients access liquidity on the network.
TrueFX is a spot trading facility delivered by Integral technology, cleared by Jefferies FX Prime Brokerage.
Launched earlier this year, the TCM network allows buy-side firms of all sizes to directly access liquidity on TrueFX from leading market makers without an intermediary.
Clients of TrueFX have the option to clear through Jefferies FXPB, the central credit counterparty for TrueFX, or open an account with a TCM and gain access.
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Servicing more segments of the buy-side community
“We are pleased to be joining the TrueFX network as a clearing member and offer our clients access to this service with valuable connectivity to the marketplace. TrueFX is an exciting development for the FX market and we are proud to demonstrate our commitment to this initiative,” Wayne Roworth, co-head of eFX at Sucden Financial, said.
“Having Sucden Financial join the TrueFX Clearing Member network greatly enhances the offering available to clients and allows TrueFX to service many more segments of the buy-side community,” said Harpal Sandhu, CEO of Integral and technology provider for TrueFX.
“The addition of Sucden Financial to the network is further testament to the network’s compelling value proposition and we are thrilled to have them on board as a clearing member,” he added.
TrueFX allows for unlimited small tickets and includes connectivity, aggregation and MT4/MT5 bridging technology free-of-charge.