Advanced Markets Partners With Standard Chartered to Expand DMA/STP Liquidity - The Industry Spread

Ricardo Esteves

Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.

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Advanced Markets Partners With Standard Chartered to Expand DMA/STP Liquidity

November 13, 2018

Standard CharteredAdvanced Markets has signed Standard Chartered Bank as a foreign exchange prime broker as the firm extends the range of clients that can use prime brokerage to trade via Advanced Markets’ Direct Market Access (DMA/STP) liquidity infrastructure.

By adding Standard Chartered Bank as a prime broker, the institutional foreign exchange liquidity and prime-of-prime service provider will be able to improve its liquidity offering for market participants.

Anthony Brocco, Founder and Chief Executive Officer at Advanced Markets, said: “Having Standard Chartered Bank as a prime broker enables us to better serve institutional market participants and further solidifies our standing as a leading prime-of-prime service provider to brokers, banks and fund managers.”

The newly launched FCA-regulated Advanced Markets (UK) Limited operation based in London will be provided with Standard Chartered’s prime brokerage services, as well as the company’s ASIC-registered operation. Both operations, in the UK and Australia, are independent entities and will have discrete prime brokerage accounts at the bank.

Matthew Walsh, Head of Prime Services Sales Americas, Standard Chartered, commented: “We are pleased to provide FX prime brokerage services to enhance market access for institutional market participants. Advanced Markets’ transparent, direct market access agency model, which enables clients to trade on top-tier bank liquidity, fits well within our strategy.”

Anthony Brocco, founder and Chief Executive Officer at Advanced Markets
Anthony Brocco, founder and Chief Executive Officer at Advanced Markets

Advanced Markets’ Direct Market Access (DMA/STP) liquidity model was launched in 2006 to enable foreign exchange market participants to trade anonymously on prices streamed by leading liquidity providers in a fully transparent, anonymous market structure. The firm’s DMA/STP model already counts with the existing prime brokerage and credit relationship with UBS. Standard Chartered’s services will complement the role of UBS at the firm’s DMA liquidity model which is offered to leading brokers, fund managers and other institutions.

Adding to the existing partnership with UBS and the new relationship with Standard Chartered Bank, Advanced Markets also works with Macquarie Bank to support custodial accounts for eligible corporate clients in order to provide enhanced security as the client’s funds are held in its name in a custodial account.

In October, Advanced Markets has formally endorsed the FX Global Code of Conduct thus registering with The Australian Financial Markets Association (AFMA) in their public register supported by ACI Australia.

The wholesale provider of liquidity, technology, and credit solutions to banks and brokers, is in a joint venture with leading FX ECN trading platform Fortex in order to provide prime-of-prime (PoP) services and end-to-end trading technologies to a larger number of FX market participants looking to establish a complete solution for credit and liquidity relationships.

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