FXCM Pro, the institutional arm of FXCM, and Integral, a financial technology company, have launched a centrally cleared platform for CFDs (Contracts for difference).
Through this new service, the first cleared contract for CFD users was executed with liquidity for the transaction provided by Jump Trading, a global leader in FX and CFD market making.
The CFD Prime platform brings all the widely recognised benefits of Prime Brokerage to the CFD market, including consolidated margin, account opening and netting, resulting in reduced transacting costs. Through Integral’s market leading technology, users are able to trade in standardised CFD products including major indices, commodities and crypto currencies, utilising the prime brokerage services of FXCM Pro in conjunction with liquidity from market makers including Jump Trading.
FXCM Pro will provide its balance sheet along with its battle-tested post-trade infrastructure to provide clients with the margin and operational benefits of a single account, while Integral’s technology platform allows clients to use a single connection to get aggregated prices and transact with multiple liquidity providers without having to form multiple bilateral relationships.
Brendan Callan, CEO of FXCM Group, says: “We are committed to upgrading the trading experiences of our clients, and our new CFD Prime service is the latest in the long line of our innovations designed to do exactly that. We’re harnessing 20 years of experience, as well as leveraging the latest advancements in technology to pave the way for a more diverse and vibrant global CFD trading community on our platform.”
Harpal Sandhu, Founder and CEO of Integral, says: “Integral’s innovations have always been centered on providing clients with unrivalled access to credit and liquidity. Unlocking direct access to leading CFD market makers through a single credit and technology relationship is a big step forward in what has been a bilateral market, until now.”
Bo Bjurgert, Head of Business Development at Jump Trading, adds: “This innovation is a truly ground-breaking development in the CFD market structure. By enabling LPs and customers to trade directly with each other, without the burden of managing multiple bilateral relationships, traders of CFD products will realize significant liquidity and cost benefits.”
