FXCM Pro teams up with Integral on a centrally cleared CFDs platform

abdelaziz Fathi

FXCM’s institutional arm has joined forces with FX technology company, Integral to launch a centrally cleared platform for contracts for difference (CFDs). The initiative enables investors in the wholesale markets to benefit from significantly reduced risks in the settlement of CFDs transactions.

traders

The alliance between FXCM Pro and Integral ‎creates a platform that brings the benefits of prime brokerage business to the CFD market. This includes consolidated margin, account opening and netting, resulting in reduced transacting costs. This actually catches up with a major shift occurring in the market demand for SDP platforms driven by customers’ need for asset class diversification, post-trade support, research and market data.

The partnership taps into Integral’s pricing engine infrastructure to facilitate trading in standardized CFD products including major indices, commodities and cryptocurrencies. Further, it utilizes the prime brokerage services of FXCM Pro in conjunction with liquidity from market makers including Jump Trading.

Bo Bjurgert, head of business development at Jump Trading explains that traders of CFD products will realize liquidity and cost benefits without the burden of managing multiple bilateral relationships. This was made possible by enabling LPs and customers to trade directly with each other.

The partnership will also support FXCM Pro’s team in growing ‎out a new value proposition for new and existing clients. Now, it has the complex skills required to offer centrally cleared CFDs on a regulated, electronic, low latency market.

“We are committed to upgrading the trading experiences of our clients, and our new CFD Prime service is the latest in the long line of our innovations designed to do exactly that. We’re harnessing 20 years of experience, as well as leveraging the latest advancements in technology to pave the way for a more diverse and vibrant global CFD trading community on our platform,” said Brendan Callan, CEO of FXCM Group.

Integral’s technology supplements FXCM’s existing liquidity and execution solutions, giving its clients the opportunity to ‎connect to a wide range of service providers. It also allows clients to centralize their leveraged products to get aggregated prices and transact with liquidity providers without the need to have multiple bilateral relationships.

And in return, FXCM Pro will provide its balance sheet and post-trade infrastructure to provide clients with the margin and operational benefits of a single account.

FXCM Pro is the group’s agency trading service aimed at middle-market hedge funds and ‎financial institutions. Leveraging billions in monthly trading volume, ‎FXCM Pro gives clients access to global top-tier banks using their own lines of ‎credit.‎

“Integral’s innovations have always been centered on providing clients with unrivalled access to credit and liquidity. Unlocking direct access to leading CFD market makers through a single credit and technology relationship is a big step forward in what has been a bilateral market, until now,” added Harpal Sandhu, Founder and CEO of Integral.

Read this next

Digital Assets

Crypto miner BitFuFu to go public on Nasdaq through $1.5 billion SPAC merger

Cloud-mining service provider BitFuFu, backed by industry giant Bitmain, will go public through a merger with a blank-check firm in a deal that values the combined entity at $1.5 billion. This valuation is 4.6x 2022 projected revenue and 3.3x projected December 2022 annualized recurring revenue.

Digital Assets

Bithumb will no longer allow withdrawals to unverified crypto wallets

Bithumb, one of South Korea’s big four exchanges — alongside Coinone, Korbit, and Upbit — exchange is moving to block the use of anonymous wallets.

Retail FX

Cyprus compensation fund (ICF) to protect customers of Sonafx and BelightFX

The Cyprus Securities and Exchange Commission (CySEC) today published a new list of financial services providers that were disbarred from its lifeboat scheme.

Opinion

Exclusive interview with Stacey Van Niekerk of Finalto Group

With qualifications in A+ IT certification; in programming and wealth management as well as currently studying Investment Management at CISI Stacey Van Niekerk is an incredible asset to the Finalto Group. Having 10 years combined extensive experience in the Financial Industry working and helping Brokerage Firms and Fintech companies assist clients around the world in regions such as Australia; Africa; Europe; Asia; Uk and Mena Stacey is now responsible for driving Finalto’s B2B technology offering.

Institutional FX

MOEX lifts restrictions on repo transactions, including short positions

Russia’s largest institutional trading venue has lifted restrictions it applied last month to repo transactions with a central counterparty (CCP) in US shares.

Retail FX

USGFX has a heavy shortfall in client money, nearly $350M missing

BRI Ferrier, the liquidators of Union Standard International Group, known as USG or USGFX, today said creditor claims have hit $357 million, and this amount may increase further.

Industry News

Ripple fails to stop discovery extension amid SEC’s 180º on Hinman’s speech

The plaintiff has made a 180º turn by suggesting that the speech wasn’t merely peripheral to actual policy formulation”, but was in fact an “essential link” in the SEC’s deliberative process with respect to Ether” and other digital assets. 

Digital Assets

Gemini hires Pravjit Tiwana as CTO with eyes on Web3 and Metaverse

“I want to help build Web3 and the decentralized Metaverse. The promise is as big as the Internet itself and Gemini is well-positioned to help build and catalyze that future.”

Institutional FX

Broadridge automates Santander’s Shareholder General Meeting services in Spain

Broadridge has recently expanded coverage for proxy processing and extended voting windows for 20 sub-custody markets in 2021, with more markets to follow in 2022 and 2023.

<