Centroid Solutions has partnered with Panama-headquartered private bank and trading company Atlas Bank to prop up its prime brokerage offering for the LATAM markets.
FX Brokers in LATAM Rejoice
Daniel Caamano, Chairman of Atlas Bank said: “Partnering with Centroid is an important step for us in offering our flexible liquidity and banking solutions to a wider audience of FX brokers. We are confident that through collaboration with businesses like Centroid that have the technology to help brokers access our services, it will allow us to serve more potential clients in a wide range of global jurisdictions. Our aim is to grow the Atlas FX business with these types of strategic partnerships to offer as many potential clients as possible the benefits of working with a bank that has a truly service led approach.”
Cristian Vlasceanu, CEO of Centroid Solutions commented: “We are delighted to establish this partnership with Atlas Bank and integrate our technology with their liquidity, clearing and settlement solutions. Our customers will benefit from this partnership by gaining access to high quality liquidity and can expand their offering through the extensive products offered by Atlas Bank, accessible via the Centroid Gateways aggregator engine.”
Atlas Bank specializes in FX and precious metals clearing, offering institutional access to the foreign exchange market in a secure, transparent and competitive environment.
Centroid specializes in risk management, quantitative analytics, connectivity, complex execution strategies and P&L optimisation for multi-asset financial brokers.
The partnership between Centroid and Atlas Bank further optimizes brokers’ business performance, expands their product offering, and facilitates business growth.
Centroid Solutions also delivers tailored solutions to foreign exchange and CFDs brokers seeking improved risk visibility, including a proprietary bridge solution for connectivity. Its Centroid 24 risk management suite collects data and produces conclusions that help brokers understand their profitability on both A-book and B-book models of operation.
With its integrated approach to the market, Centroid Solutions is venturing deeper into what is a competitive space in the retail brokerage industry.
The company’s flagship offering includes: Centroid24 RMS, an all-in-one risk management software that automates in real-time all risk management and analytics activities for the dealing department and decision-makers of the company. Centroid Gateways Aggregation Engine, an innovative multi-asset bridging and execution engine, featuring a quant-based execution technology which enables flow allocation at a granular trade level, based on any quantitative risk factors the broker is tracking.
The execution engine opens up new revenue capturing capabilities for the broker, as well as greater flexibility for controlling the exposure, managing and optimizing the flow. Centroid Solutions also offers infrastructure and server hosting services, tailored for financial trading platforms.
Centroid Fast Expansion in 2021 Includes IG Prime
Centroid Solutions has signed several strategic partnerships this year, including IG Prime, which was looking to deepen its liquidity capabilities.
IG Group launched its new prime brokerage unit in 2020 under the brand ‘IG Prime,’ which provides synthetic prime and custody services across a range of asset classes including equities, indices, FX, commodities, and cryptocurrencies. IG Prime is intended for a client segment that includes mid-sized hedge funds and family offices and other buy-side institutions, which are currently experiencing a variety of challenges, such as accessing the wholesale foreign exchange price matching community via a prime brokerage model.
The UK spread better has originally launched its prime brokerage services back in 2006 and recently strengthened its dedicated institutional offering that IG expects to yield a potential market opportunity of around £500 million.
IG Prime business introduces a liquidity pool that boasts more than 330,000 active clients making over 14 million transactions a month. The offering connects investors via a single venue and combines web-based trading with real-time reporting. IG Prime is supported by IG’s global client support network, spanning 16 countries worldwide.