Advanced Markets launches UK company

Maria Nikolova

FCA-regulated entity encompasses new London office and data center.

Advanced Markets, an institutional foreign exchange liquidity and prime-of-prime service provider, has launched Advanced Markets (UK) Limited (AM (UK)), an FCA-regulated company. The entity includes new trading servers in Equinix’s LD4 and LD5 data centers as well as a new London office headed by industry veteran Nina Baksh.

“The launch of our comprehensive London operation is an important step in the company’s global strategy,” said Anthony Brocco, Founder and CEO, Advanced Markets. “It enables us to better serve our institutional broker and fund manager clients in the UK and Europe, by providing a regional matching engine, which is fully cross connected with our bank and non-bank liquidity providers.”

Under the terms of its FCA registration, AM (UK) may act only as a Matched Principal Broker, meaning it is required to match every client trade with an offsetting transaction with a liquidity provider. This model not only limits the firm’s market risk, it also aligns the firm’s interests with those of its clients.

AM (UK) is further limited to dealing with qualified professional counterparties only, matching the company’s global policy.

Advanced Markets’ Direct Market Access (DMA/STP) liquidity model, which the firm pioneered upon its launch in 2006, enables FX market participants to trade anonymously on prices streamed by leading liquidity providers in a fully transparent, anonymous market structure. The combination of the firm’s DMA/STP model and robust low latency trading infrastructure has driven participation from leading brokers, fund managers and other institutions.

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.

<