FXCM Group, an online foreign exchange (forex) and contracts for difference (CFD) trading provider, announced this Tuesday that it has formed a technology partnership between its institutional business, FXCM Pro, and FlexTrade’s “MaxxTrader” solution.
MaxxTrader is FlexTrade’s white label trading system for sell-side institutions that operate in the forex markets. The system allows firms to privately aggregate and issue price information.
Furthermore, the MaxxTrader solution is a complete, turnkey front-end solution. This means that client orders can trade directly with the trading desk or back-to-back with all liquidity providers.
MaxxTrader to integrate into FXCM Pro
Under the agreement, MaxxTrader will be integrated into FXCM Pro’s existing suite of solutions. The institutional unit provides retail brokers, small hedge funds, and emerging market banks access to wholesale execution and liquidity. Through FXCM Prime, the unit also gives high and medium frequency funds access to prime brokerage services.
Commenting on the partnership, Siju Daniel, Chief Commercial Officer of FXCM Group, said: “We are thrilled to partner with FlexTrade, a truly innovative and leading technology provider in the space.”
TrustedBrokerz: The Source More Traders Are TrustingGo to article >>
“MaxxTrader is an End to End, dedicated and customizable solution covering all products including FX Spot, Swaps, NDFs, CFDs and Commodities across all the major hosting centers including NY4, LD4, TY3 and SG1.”
“This coupled with FXCM’s leadership in supplying unique and tailored bank and non-bank liquidity, delivers a powerful offering to clients who require best in class across their technology and liquidity needs. FXCM Pro further differentiates itself by adding FlexTrade to its existing suite of robust solutions.”
FlexTrade continues to expand its footprint
So far this year, FlexTrade has been expanding its footprint. As Finance Magnates reported, the company has been expanding its forex and fixed-income teams to meet growing demand, as well as establishing partnerships, such as its recent one with IHS Markit.
“FXCM is a leader in this space and ahead of the curve in terms of liquidity and pricing. And when you combine it with our “MaxxTrader” solution, it’s a win-win situation for clients interested in a comprehensive solution,” added Manish Kedia, Managing Director of FlexTrade APAC.
“FXCM Pro’s long-standing reputation of being fully client oriented made our decision to integrate with them an easy one. We are a firm believer in FXCM Pro’s vision and look forward to further collaborations.