provides retail brokers, small hedge funds and emerging market banks access to wholesale execution and liquidity while providing high and medium frequency funds access to prime brokerage services via FXCM Prime.“MaxxTrader” is a White Label solution offering Desktop, Web and Mobile apps, along with distribution on the FIX API, covering an end-to-end workflow that includes Aggregation, Price creation, Distribution, Order Management, Margin Engine, Risk Management, and Auto-hedging strategies. Its out-of-the-box Algo suite features TWAP, VWAP and Basket trading, which can be used internally and offered directly to clients.Siju Daniel, Chief Commercial Officer of FXCM Group, commented: “We are thrilled to partner with FlexTrade, a truly innovative and leading technology provider in the space.” Daniel added: “MaxxTrader is an End-to-End, dedicated and customizable solution covering all products including FX Spot, Swaps, NDFs, CFDs and Commodities across all the major hosting centers including NY4, LD4, TY3 and SG1. This, coupled with FXCM’s leadership in supplying unique and tailored bank and non-bank liquidity delivers a powerful offering to clients who require best in class across their technology and liquidity needs. FXCM Pro further differentiates itself by adding FlexTrade to its existing suite of robust solutions.”
Manish Kedia, Managing Director of FlexTrade APAC, said: “FXCM is a leader in this space and ahead of the curve in terms of liquidity and pricing. And when you combine it with our “MaxxTrader” solution, it’s a win-win situation for clients interested in a comprehensive solution. FXCM Pro’s long-standing reputation of being fully client-oriented made our decision to integrate with them an easy one. We are a firm believer in FXCM Pro’s vision and look forward to further collaborations.”
FlexTrade is a provider of high-performance execution management and order management systems for equities, foreign exchange, options, futures, and fixed income. Founded in 1996, the firm’s leading product is FlexTRADER, a broker-neutral, and execution management trading system, which allows clients to completely control and customize their proprietary algorithms while maintaining the confidentiality of their trading strategies.
Founded in 1999, FXCM is now a Leucadia company. The acquisition took place in the sequence of the Swiss “flash crash” which hit the retail FX broker hard. An emergency loan arrangement of $300 million for two years from Leucadia National Corp following the Swiss Franc spike on January 15, 2015, were utilized in covering the negative balances of clients in that shocking event which affected most of the brokers. Now Leucadia holds an economic interest in FXCM and has been involved in all major decisions of the company ever since followed by appointment of Jimmy Hallac as Chairman of FXCM, previously with Leucadia. Last year, FXCM Group rebranded its logo to add the phrase “a Leucadia company”. By that time, FXCM had parted business ties with Global
Brokerage Inc, a one-time controlling shareholder.