Saxo Bank, the multi-asset online trading and investment specialist, has launched Saxo Prime, its new FX prime brokerage solution offering institutional clients direct market access (DMA) to major FX liquidity providers and venues worldwide.
Saxo Prime combines prime brokerage functionality from Saxo Bank with connectivity from MarketFactory, a provider of low latency algorithmic trading software and hosted co-location services.
Saxo Prime expands Saxo Bank’s product offering for asset managers, retail brokers and proprietary trading firms by offering FX DMA. Saxo Direct, the API (Application Programming Interface) connectivity solution, provides access to Saxo Bank’s own cross-asset liquidity.
Saxo Prime’s DMA functionality is built on MarketFactory’s FX Aggregator, providing a single API for normalised connectivity to major market making banks and currency electronic communication networks (ECN). Saxo Bank’s clients are not exposed to changes, updates or access agreement across various feeds, and the API preserves the features of each venue, delivering continuous connectivity.
Lucian Lauerman, head of API business at Saxo Bank, says: “With Saxo Prime and DMA, we enable our institutional clients to easily and efficiently tap into the major liquidity venues. Saxo Prime gives our clients direct access to the liquidity pools that power the FX markets, from a range of ECNs or to pools of tier one bank liquidity. MarketFactory is a leading provider of low latency connectivity in the FX space, with an excellent technical solution as well as an impressive track record of delivery. The team’s experience and dedication will help us further expand our state-of-the-art offering to our clients, and offer them unparalleled access to liquidity. Saxo Prime combines direct connectivity with access agreements and credit intermediation where needed, meaning a wider range of clients can directly and easily access these venues.”