Fillmore Advisors

INTL FCStone Partners With Spotex for Institutional ECN Service

Fillmore Advisors - institutional ECNSpotex has signed INTL FCStone Markets to provide prime services enabling clients to access Spotex’s institutional ECN. The firm’s wholesale and institutional liquidity is facilitated by leading bank FX prime brokers, prime-of-prime brokers, and prime service providers.

The developer of foreign exchange (FX) modular technology systems has recently partnered with J.P. Morgan and NatWest Markets as the firm increasingly caters to the brokerage and fund manager market segments.

Fred Allatt, Managing Director, North America FX Sales at INTL FCStone Markets, said: “We are excited about the opportunity to offer Spotex as an additional ECN within our prime of prime offering. Our client base of professional traders, hedge funds, CTA’s and broker-dealers will benefit from having this additional venue to access competitive spot pricing and superior technology, while utilizing INTL FCStone Markets, LLC as their financial intermediary. We look forward to growing our relationship with the Spotex team.”


John Miesner, Chief Executive Officer at Spotex, commented: “We look forward to working with INTL FCStone Markets, LLC to expand access to our ECN from brokers, fund managers, and other institutional market participants. We see the Spotex ECN’s combination of uncorrelated trade flows and its robust, low-latency matching technology providing value to INTL FCStone Markets, LLC clients across the globe.”

Earlier this year, the US-based Forex trading technology provider hired Kevin Gillespie to spearhead its expansion activities in Europe as Director of Institutional sales in their London office. Prior to his current role at Spotex, Kevin was a part of sales and business development team at Cobalt where he served for nearly two years. Gillespie reports to John Miesner, Global Head of Sales and Distribution, who also joined Spotex recently from GTX, which is an institutional foreign exchange platform where he spent four years of his long career. At GTX he was responsible for global ECN sales based out of New York.

In January 2019, INTL FCStone secured the necessary regulatory approval from US regulator SEC in connection to the acquisition of GMP Securities LLC, which expands the firm’s client base with a wave of over 2,400 institutional participants. INTL FCStone’s product offering includes commodities, derivatives, FX and global payments and the deal allowed the company to expand its current fixed income product portfolio.