CFH Clearing Appoints Bank of America Merrill Lynch as New FX Prime Broker
by
Adil Siddiqui
CFH Clearing has chosen Bank of America Merrill Lynch as its new primary prime broker, the move comes on the back changes at the firm which included rebranding to ensure its business is accurately reflected.
CFH Clearing a leading prime of prime (PoP) has selected a new prime broker as the firm undergoes a spiral of changes that reflect the direction of its business. The FCA regulated firm that is part of the CFH Group, has appointed Bank of America Merrill Lynch to operate alongside UBS who predominantly covers its precious metals pricing and Liquidity .
CFH Clearing’s two main prime brokers were Morgan Stanley and UBS as stated on their website, the firm underwent a strict assessment on prime brokers as a replacement for Morgan Stanley and eventually chose Bank of America Merrill Lynch due to its ‘strong service model, competitive pricing and speed in which it on-boards were particularly impressive,’ according to CFH Clearing as mentioned in the official briefing.
In a statement to the media, CEO and Co-Founder of CFH Clearing, Lars Holst explained: “Our recent name change from CFH Markets to CFH Clearing now reflects our business model as an interbank prime of prime solutions provider. Our new relationship with Bank of America Merrill Lynch, combined with our open and flexible technology, allows us to give the smaller to medium sized institutional customer a full front to back solution with excellent and diverse liquidity.”
After the global recession of 2008 large institutions were forced to examine their prime brokerage relationships, the one to one approach was far too risky as shown by the demise of Lehman’s and AIG. Hedge funds and institutions were looking at one or two primary prime brokers in a bid to diversify and manage their portfolios. This opened up opportunity for banks to enter the FXPB space. FXPB’s face a new wave of issues in respect of Dodd Frank and centralised clearing.
CFH Clearing positions itself as a broker neutral, platform agnostic firm that offers a wide variety of trading platforms for its clients. The firm offers; MetaTrader 4, tradable, ACT Forex, CFH Pro and Vertex 10.
The interbank, pure agency trading model has contributed to the growth and development of the prime of prime product, in essence it sits on a level below traditional prime brokerage services but adds a layer of flexibility for the specific needs of firms such as retail aggregators in respect of leverage and ticket size. The PoP sector is expected to grow as FX brokers look at methods to offset risk and provide a value add service for traders.
Recent reports in certain media publications were stating that Morgan Stanley was shutting down its FXPB division. Forex magnates was in touch with Mark Lane a spokesperson for the bank who said: “After an extensive review, Morgan Stanley is fully committed to a more focused and streamlined FXPB business that will draw on the Firm's market-leading technology platform, intellectual capital and top-tier prime brokerage relationships to differentiate our offering.''
CFH Clearing a leading prime of prime (PoP) has selected a new prime broker as the firm undergoes a spiral of changes that reflect the direction of its business. The FCA regulated firm that is part of the CFH Group, has appointed Bank of America Merrill Lynch to operate alongside UBS who predominantly covers its precious metals pricing and Liquidity .
CFH Clearing’s two main prime brokers were Morgan Stanley and UBS as stated on their website, the firm underwent a strict assessment on prime brokers as a replacement for Morgan Stanley and eventually chose Bank of America Merrill Lynch due to its ‘strong service model, competitive pricing and speed in which it on-boards were particularly impressive,’ according to CFH Clearing as mentioned in the official briefing.
In a statement to the media, CEO and Co-Founder of CFH Clearing, Lars Holst explained: “Our recent name change from CFH Markets to CFH Clearing now reflects our business model as an interbank prime of prime solutions provider. Our new relationship with Bank of America Merrill Lynch, combined with our open and flexible technology, allows us to give the smaller to medium sized institutional customer a full front to back solution with excellent and diverse liquidity.”
After the global recession of 2008 large institutions were forced to examine their prime brokerage relationships, the one to one approach was far too risky as shown by the demise of Lehman’s and AIG. Hedge funds and institutions were looking at one or two primary prime brokers in a bid to diversify and manage their portfolios. This opened up opportunity for banks to enter the FXPB space. FXPB’s face a new wave of issues in respect of Dodd Frank and centralised clearing.
CFH Clearing positions itself as a broker neutral, platform agnostic firm that offers a wide variety of trading platforms for its clients. The firm offers; MetaTrader 4, tradable, ACT Forex, CFH Pro and Vertex 10.
The interbank, pure agency trading model has contributed to the growth and development of the prime of prime product, in essence it sits on a level below traditional prime brokerage services but adds a layer of flexibility for the specific needs of firms such as retail aggregators in respect of leverage and ticket size. The PoP sector is expected to grow as FX brokers look at methods to offset risk and provide a value add service for traders.
Recent reports in certain media publications were stating that Morgan Stanley was shutting down its FXPB division. Forex magnates was in touch with Mark Lane a spokesperson for the bank who said: “After an extensive review, Morgan Stanley is fully committed to a more focused and streamlined FXPB business that will draw on the Firm's market-leading technology platform, intellectual capital and top-tier prime brokerage relationships to differentiate our offering.''
FX Volatility Impacts Q1 Revenue of Compagnie Financière Tradition
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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