PrimeXM, a connectivity and infrastructure provider for the brokerage industry, announced this Tuesday that it has expanded its long-established partnership between Australian foreign exchange (forex) broker Global Prime, to begin a new setup with a startup in the global brokerage industry – TraderEvolution.
Under the partnership, Global Prime is one of the first brokers to integrate TraderEvolution’s trading platform, which will be used for the institutional side of the company’s business. The platform provider has customized a platform to meet Global Prime’s needs, the statement said.
TraderEvolution provides multi-market trading platforms, including back-end and a full set of front-end trading platforms that have connectivity to dozens of markets across the world. To help the ASIC-regulated broker integrate the platform, PrimeXM will provide the setup for the integration via its infrastructure in New York and London.
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Commenting on the partnership, Elan Bension, Director at Global Prime, said: “Global Prime has been with PrimeXM for nearly 4 years and has found the technology to be robust with round the clock support for PrimeXM XCore, and MT4 retail trading platforms.”
Regulations prompt brokers to diversify
The partnership announced today is the result of the growing importance for brokers to diversify their offering. This has seen a lot of trading providers expand the assets they offer to trade, or even go one step further with unique offerings such as commission-free trading.
“Оur options for platform customization and additional development helped us to meet 100% of Global Prime’s requirements and allowed to build an outstanding offering for the institutional and retail part of their business,” added the founder and CEO of TraderEvolution, Roman Nalivayko.
“PrimeXM is a great choice for us to continue to manage 3rd party platforms such as TraderEvolution under the one umbrella co-located with direct access to our tier 1 and nonbank liquidity” continued Bension.