Integral, a financial technology company, and Jefferies, a global investment banking firm, have launched TrueFX, a fully integrated service designed for buyside firms to conveniently connect and trade with the FX market.
TrueFX is designed for the buyside community, including retail brokers, macro hedge funds, prime of primes and also regional banks. The centrally cleared venue provides direct access to FX liquidity through a single point of credit intermediation and technology integration. TrueFX aim to reduce trading, technology and credit costs by combining the solutions into a single offering.
TrueFX is open to the entire OFC community and delivers access to the institutional FX market for a new and diverse client base. Participants access other TrueFX community members via a dedicated integral connectivity network and either a direct credit relationship with Jefferies FXPB or with a client of Jefferies FXPB.
Brandon Mulvihill, Global Head of FX Prime Brokerage at Jefferies, says: “The flow of credit is the lifeblood of the FX market, but market inefficiencies have stalled accessible and affordable credit for many market participants. We are excited to play a pivotal role in addressing this challenge via TrueFX and to collaborate with an industry-leading team at Integral to make this happen.”
Harpal Sandhu (pictured), Founder and CEO of Integral, says: “The market has a huge desire to access additional parties with which to trade. We are working on making available all leading sources of liquidity, so clients can trade with everyone through a single connection. TrueFX is built on Integral’s ECN network, which is recognised for its ultra-low latency, high-performance and superior integration. This means trading members of TrueFX can find a streamlined, cost efficient meeting place with seamless onboarding.”