Straits Financial to provide prime-of-prime brokerage services to Spotex
Asia-Pacific region broker Straits Financial Services is now providing prime-of-prime (PoP) brokerage services to Spotex, a developer of modular, technology systems for foreign exchange brokers and institutional ECN operator.
The agreement enables clients to access institutional FX liquidity via Straits Financial and provides a gateway for brokers to deploy Spotex’s modular technology solutions.
Straits Financial will now provide credit intermediation and liquidity to broker and fund manager clients as a Spotex PoP. This includes Straits Financial’s proprietary institutional liquidity accessed via a dedicated Spotex Broker Liquidity Hub and from Spotex’s institutional ECN.
Straits Financial will also deploy Spotex technology to expand the range of functionality it provides to brokers. New functionality will include multicurrency PAMM, MAM, IB management, and trade copier/social trading.
“We are pleased to provide credit intermediation and liquidity to a new set of FX brokers and fund managers through our prime-of-prime brokerage agreement with Spotex,” says Raymond Mok, Global Head of FX, Straits Financial. “We look forward to working with Spotex to provide credit intermediation, technology solutions and liquidity to clients across the Asia Pacific region.”
Spotex provides complete, modular FX broker technology systems that are fully integrated with its ECN and dedicated Broker Liquidity Hubs. The white-label technology supports multilevel credit and margin management to layers of brokers and sub brokers as well as introducing brokers.
“We are excited to offer clients world-class credit intermediation and FX liquidity provided by Straits Financial, an acknowledged leader in the Asia-Pacific region,” says John Miesner, Chief Executive Officer, Spotex. “We expect our joint offering to be of great interest to fund managers and retail FX brokers, especially as we continue to roll out technology innovations in the months ahead.”