FXCM Group today announced the successful integration of its institutional arm, FXCM Pro, with XCore system, a provider of FX bridge aggregation and institutional hosting solutions owned and operated by Swiss-based technology company PrimeXM.
The core of the integration of FXCM Pro into PrimeXM consists of an ultra-low latency order routing and pricing engine, XCore, giving the institutions the opportunity to connect to a wide range of liquidity providers. Furthermore, XCore is installed in PrimeXM’s infrastructure in Equinix data centers, allowing for the efficient management of the entire brokerage business in a centralized environment.
PrimeXM has undergone a series of initiatives in 2017 designed to grow its business and market penetration. In September, the group opened a London office, part of its bid to expand the reach of its solutions suite to clients in different institutional segments.
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The partnership will also support FXCM Pro’s team in growing out a new value proposition for new and existing clients.
FXCM Pro is the group’s agency trading service aimed at middle market hedge funds and financial institutions. Leveraging over $100 billion in monthly trading volume, FXCM Pro gives clients access to global top-tier banks using their own lines of credit.
Commenting on the news, Brendan Callan, CEO of FXCM, said: “FXCM is delighted to announce that we have signed a deal with Prime XM and integrated the FXCM Pro FX and CFD pricing within the XCore infrastructure. XCore has proved to be an extremely popular venue amongst FXCM Pro’s institutional client base. As a globally recognized Liquidity Provider, the FXCM Pro team is confident that Prime XM’s market leading technology will complement our extremely competitive spreads to provide FXCM Pro’s institutional clients with a first class trading experience.”
“Committed to offering market leading technology solutions, we are very pleased to welcome FXCM to our XCore community. FXCM’s top-tier liquidity offering and the organization’s extensive experience will bolster the already strong selection of LPs available within our network and provide significant added value to our client base,” added Head of Global Sales, Richard Bartlett.