The UK FCA regulated, one of the world’s biggest financial trading platforms, CMC Markets Institutional (LON: CMCX) has partnered with PrimeXM to expand its multi-asset liquidity offering through PrimeXM’s XCore. The X-Core’s innovative technology benefits a large number of financial institutes by providing them with liquidity through Tier 1 banks, prime brokers and other liquidity sources.
Through X-Core’s community, CMC Markets will able to offer a wide range of liquidity including currency pairs, indices, commodities and treasuries to various financial institutes at a ultra-low latency connectivity.
Commenting on the partnership, CEO of PrimeXM, Cristian Vlasceanu said: “Committed to our mission of connecting financial institutions to the global markets through cutting-edge innovations, we are happy to announce today our new partnership. At PrimeXM, we know that CMC Markets will add a great value to the XCore community and we are confident that our dedication to innovation by intelligence will continue to boost performance for our partners.”
Richard Elston, Head of Partners at CMC Markets Institutional said: “PrimeXM is recognised as a leading technology provider in the financial industry, making them a natural fit as a distribution partner for our own liquidity, including FX, CFDs and native spread bet instruments. Their low latency, institutional grade infrastructure will provide another reliable route which offers even more counterparties access to CMC Markets’ single source of high quality, multi-asset liquidity.”
The brokerage on Monday also announced the launch of a new product, CMC Pro, that will allow many customers to circumvent the controversial clampdown by the European regulators. The new product is designed for professional clients to continue using their existing leverage rates. Under the new ESMA guidelines, the retail clients will only have a maximum leverage of 1:30 in major FX pairs.
Those clients who want to reclassify themselves as professional clients can also gain additional benefits from the company. In order to become a professional trader, they must fulfil two of the three mentioned criteria:
Have carried out transactions of a significant size on a relevant market (10 per quarter over the previous four quarters), need to have a financial instrument portfolio that exceeds 500,000 euro and have experience in the financial sector for at least one year.
Group Commercial Director at CMC Markets, David Fineberg, commented: “Over the last ten years, we have seen tremendous changes in our industry, driven by technology and social media. It is right that regulators are now looking to protect less experienced and potentially vulnerable clients. We are seeing a change in consumer behaviour as clients are now demanding a personal, tailored service to suit their individual needs. We will continue to invest in our Next Generation trading platform to meet the requirements of our CMC Pro clients.”