Advisory and professional services firm Seabury Group announced today that its recently launched Seabury Global Markets (SGM) entity has made an initial investment and entered into a multi-year, strategic partnership with FX ECN Spotex.
The new partnership follows the January 2016 announcement of a Joint Product Offering, in which the Seabury Financial Solutions LLC (aka FXone) and Spotex agreed to combine certain products and collaborate to expand each other’s client base. SGM plans to help develop certain Spotex technology and further grow Spotex’s distribution footprint as part of the Seabury Group of companies.
Rob Fleschler, Seabury Global Markets President and CEO, says,
“We are excited to build on the existing partnership between our companies, which has been well received. Feedback from clients has been positive and we will all benefit from our mutual business operations. This expanded collaboration will deepen Seabury’s capabilities to provide our clients with an additional source of liquidity, intelligent client-facing technologies and tools.”
Spotex will continue to operate as an independently run company headed by Ritesh Agrawal, Spotex Chief Executive Officer while becoming part of the product offerings at Seabury Group and its affiliated companies. Seabury Capital (SeaCap), parent company of SGM, owns and operates specialty finance companies providing innovative cross-border and asset-back financing.
Ritesh Agrawal, Spotex Chief Executive Officer, says,
“Seabury’s initial investment and global reach will enable Spotex to immediately expand our sales opportunities and distribution efforts. The Spotex ECN provides a complete end-to-end solution for institutions and retail brokers through participating prime broker and prime relationships.”
For the full announcement on the partnership, click here.