Looking back at the most intriguing and popular industry news from the past week between 27th and 31st of July on LeapRate.
Retail brokers deciding to work with a new Prime of Prime (PoP) should be aware that the onboarding process, technology integration and support from their new PoP are all key factors in their ability to service their own end clients effectively. Ultimately these could result in the success or failure of their business. LeapRate spoke to Daniel Crane, IS Prime’s Deputy Head of Electronic Trading Solutions to find out more about best practices to ensure that retail brokers not only receive a seamless onboarding experience but also get the most out of the relationship over the long term.
London-based software provider for the financial industry Devexperts announced hiring Ben Clark as Vice President of Business Development. At his new position, Clark will oversee the growth of the Global customer base of Devexperts for the company’s whole product portfolio, including exchange solutions, trading and wealth-management platforms. He will focus specifically on the recently launched SaaS trading platform DXtrade. The platform caters to Forex/CFD brokers of all sizes, including from start-ups and companies looking to diversify their offering and gain greater control of their internal risk management.
LiquidityMatch LLC’s wholly owned subsidiary FXSpotStream LLC announced that Societe Generale has gone live on FXSpotStream’s price streaming Service as its 15th liquidity provider. Societe Generale is the 15th bank that provides liquidity for the FXSpotStream’s Service’s clients. The existing liquidity providers on the service include Barclays, BofA, BNP Paribas, Citi, Commerzbank AG, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley, MUFG, Standard Chartered, State Street and UBS.
The UK Financial Conduct Authority (FCA) launched its updated Financial Services (FS) Register which includes a simpler design and clearer language. The updates aim to help consumers protect themselves and will provide a better experience for the Register’s users. The FS Register has over 7 million users in the past year. It is an essential service for anyone who wants to see firms and approved individuals that are involved with regulated activities. It helps consumers avoid scam and allows firms to cross-check references and make their key staff known to customers.
UK-based clearing and liquidity provider Sucden Financial launched its TY3 (Tokyo) matching engine, in conjunction with FlexTrade Systems. The TY3 matching engine is aims at Asia-Pacific clients. It provides a significant reduction in cross-region latency and an improved experience with enhancements to liquidity and price discovery during Asia trading hours. The new matching engine in combination with Sucden Financial’s established NY4 and LD4 infrastructure brings low latency access to the company’s customised liquidity across all three regions.
