Advanced Markets, the wholesale liquidity, and technology provider has signed up with liquidity comparison platform, LiquidityFinder. The platform enables institutions to compare liquidity offering of the different liquidity provider and select one according to the business requirements.
Advanced Market’s STP platform offers FX market participants mostly the institutions to trade on prices streamed by over 10 FX banks in anonymous and transparent market structure. Through LiquidityFinder, Advanced Markets will now compete with other liquidity providers, those who are registered in the platform in the forex, CFDs, and the cryptocurrency markets and other OTC sectors.
LiquidityFinder is an FCA regulated search tool that provides information and matching service and helps brokers and institutional players to effectively choose liquidity partner, as per the business requirement, thus simplifying the old process. Further, Advanced Markets validates the service as a one-stop venue for comparing and directly contacting liquidity providers.
Commenting on the news, LiquidityFinder founder Sam Low said:
“Advanced Markets Group (AMG) is one of the very first companies in what is now called the ‘Prime of Prime’ space, having been offering true Agency eFX liquidity since 2006. The deep experience the company has gained in this time is shared with the broader market through its extensive range of educational materials, articles, blogs, and YouTube videos. All this content will be consolidated on their page on LiquidityFinder (as it is already on their own site), further enhancing the site’s educational value.”
Natallia Hunik, Global Head of Sales at Advanced Markets Group, added:
“We are pleased to be joining the LiquidityFinder portal, as this is the first directory of its kind that features players from B2B space. The FX Market is dynamic and complex, with a significant gap between the institutional and retail spaces that is not bridged. This gap has widened even further post credit-tightening. There is a lot of liquidity recycling going on, which doesn’t add value and introduces inefficiencies into the marketplace.”
Other liquidity providers which feature in LiquidityFinder are Sucden Financial, LMAX Digital, CMC Markets, FXCM Pro, FXCM Omnibus and IS Prime.
Advanced Markets, the provider of whole liquidity to institutional Fx and prime of prime services has announced the launch of MT5 white label solutions in partnership with ECN platform and technology provider, Fortex.
The partnership allows the creation of a new solution for FX brokers operating on Metatrader platforms and would like to white label Advanced Markets MT5 terminal and get access to all of its markets.
The creation of the new product has been in response to the demand for MT5 platform and give retail brokers the same access to tools as of institutional brokers. It includes a wide range of professional tools for efficient risk and liquidity management and also provides direct high-speed access to global liquidity in a cost-effective way for brokers. In brief, this new product will offer solutions like price book, smart execution routing, sophisticated risk management, flexible revenue generating and more.
Currently, Advanced Markets operated a 100% STP/agency model as per its FCA and AFSL licenses. Fortex’s contribution exploits its flagship MT5 Bridge OMX, its primary gateway to MT5 that enables brokers to use the multi-asset platform to connect to external liquidity providers. The B2B offering is designed for instant trade connection of trade servers to banks and liquidity providers, integrating with institutional liquidity pools like Advanced Markets and many others. Switching to MT5 platform helps clients to streamline their business operations and allow efficient use of resources.
Commenting on the news, Natalia Hunik, Global Head of Sales at Advanced Markets and Fortex said:
“We have built great momentum in extending supreme Advanced Markets liquidity to MetaTrader5 over our flagship Fortex Bridge, OMX. As a result, we are ready to expand the offering with a line of MT5 White Label packages. With MetaTrader5, we help brokerages to tap into the potential of financial markets outside of FX and CFDs as well as enjoying more flexibility in settings, full market depth and a choice of net-based and ticket-based order execution.”
Advanced 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.”
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 institutional liquidity provider and Prime of Prime brokerage is an Australian Financial Services Licensee supporting direct market access (DMA) trading in spot FX, energies, precious metals as well as CFDs. Its liquidity ultimately serves more than 40,000 institutional and individual clients in more than 30 countries globally, according to the company’s estimations.
The Global Code states it “has been developed to provide a common set of guidelines to promote the integrity and effective functioning of the wholesale foreign exchange market (FX Market). It is intended to promote a robust, fair, liquid, open, and appropriately transparent market in which a diverse set of Market Participants, supported by resilient infrastructure, are able to confidently and effectively transact at competitive prices that reflect available market information and in a manner that conforms to acceptable standards of behavior.”
Anthony Brocco, founder and Chief Executive Officer at Advanced Markets, commented:
“Formally committing to the FX Global Code of Conduct was a logical step for Advanced Markets given that, since inception, the firm has continually operated under the guidelines laid out within the Code. We don’t need to change any aspect of the way in which we operate, it’s simply business as usual for us. Full transparency and aligning interests with our clients have always been at the foundation of our business model.”
The new guidance includes the prohibition on the marketing, distribution or sale of binary options to retail investors, but the trading industry is particularly upset with the CFD restrictions. These include leverage limits on opening positions; a margin closeout rule on a per account basis; a negative balance protection on a per account basis; preventing the use of incentives by a CFD provider; and a firm-specific risk warning delivered in a standardized way.
Dan Moczulski, CEO of Star Financial Systems, considers “the ESMA rulings to be so poorly thought out that [he] just can’t predict how the industry will change going forward”. While the intention of protecting the unsophisticated investor is clear, Moczulski says the new rules will not change that outcome because “the investor attracted to get rich quick, poor risk/return outcomes does not understand or seek regulatory protection.[…] These changes now guarantee that the unregulated, or lightly regulated industry has a more attractive message than the regulated industry.”
Taking the opposite view is Admiral Markets, an FCA regulated broker that does not onboard retail clients. The company welcomed the unified regulation and called it “a good change”. Admiral Markets does not expect these regulatory changes to impact professional clients and a high percentage of their clients are experienced traders, according to the broker.
Natallia Hunik, Global Head of Sales at Advanced Markets, expects “to see some indirect impact due to the ruling’s effect on the business operations at many of [their] European clients.” Lower leverage may lead to a reduction in trading volumes over the short term, but Hunik believes that “in the long term, the market will adapt and reach an equilibrium where reduced leverage and responsible trading create an overall positive effect on industry transparency and profitability.”
Laurent Bellieres, Chief Risk Officer at Swiss-based broker Dukascopy, expects the EU market to shrink on account of the new regulation as the volume of transactions and hence trading income will be reduced.
FAM Clearing, a joint venture between Advanced Markets Ltd and Fortex, Inc announced the appointment of Raphael Ribeaucourt as a Vice President of Institutional Sales, reporting directly to Natallia Hunik, Global Head of Sales at both companies.
“He will be expanding our business in the European region and worldwide, selling and promoting our excellent products”, Hunik told a reporter at The Industry Spread.
Joining FAM Clearing from PrimeXM, Ribeaucourt spent 8 years there as a Head of Business Development, being key to the company’s growth. At Baxter Financial Services, where he was Senior Sales Executive for more than four years prior to PrimeXM, he had a particular focus on North America, Europe, and Asia. There he trained new staff, headed front, middle, and back office management, and was responsible for trading FX with Institutional customers in both open outcry futures pits (FINEX & CME) and EFP’s via electronic trading platforms.
Having worked for over 12 years in key leadership roles in the financial services and technology industries, Ribeaucourt has a well-established track record that will prove to be invaluable to FAM Clearing’s ambition. He will leverage his knowledge to drive the company’ growth in Europe and beyond.
Raphael Ribeaucourt commented on the appointment: “It is a great pleasure and honor to join FAM Clearing. I have long respected their state of the art prime of prime services and pioneering technology and I’m very much looking forward to helping grow this business globally and exponentially.”
Natallia Hunik, Global Head of Sales at Advanced Markets and Fortex, Inc. “I am pleased to welcome Raphael to the FAM Clearing team. He joins us with the type of demonstrated business leadership experience that will help us in supporting our global growth trajectory. We know that Raphael’s contribution to the team will augment our continued goal of injecting full transparency into the financial markets and in bringing quality service to the margin FX space.”
Advanced Markets Ltd is a wholesale provider of liquidity, technology, and credit solutions to banks and brokers. The joint venture with leading FX ECN trading platform Fortex Inc enables the two companies to provide prime-of-prime (PoP) services and end-to-end trading technologies to a large number of FX market participants that are looking to establish a complete solution for credit and liquidity relationships. The JV extends access to the Prime of Prime service offering through locations in Boston, London, Tokyo, and Limassol.
Raphael Ribeaucourt is joining a rapidly growing senior leadership team of 15, led by Natallia Hunik, Global Head of Sales, and based in Charlotte, North Carolina.