Fortex, Inc., a developer of multi-asset trading platforms, and Advanced Markets, a wholesale provider of liquidity, technology, and credit solutions to banks and brokers, have announced the launch of a joint venture, FAM Clearing, LLC. The newly-formed joint venture allows the two companies to provide prime-of-prime (PoP) services and end-to-end trading technologies to a great number of FX market participants that seek to establish a complete solution for credit and liquidity relationships.
The PoP service combines innovative Fortex technology and its ECN trading platform with Advanced Markets’ 100% STP bank execution and clearing service into a single bundled offering.
“Our commitment to innovative, highly scalable technology enables us to team with partners like Advanced Markets and deliver mutually beneficial solutions to the market,” said Daniel Chen, chief executive officer and co-founder of Fortex. “Through theFortex ECN platform, MT4 Bridge OMX, and XBook Aggregator, our clients gaindirect access to the interbank market with razor-thin spreads. Together with Advanced Markets, we can offer a PoP service through an end-to-end, one-stop solution that restores many FX brokers’ ability to offer profitable trading opportunities to their clients.”
Advanced Markets liquidity already services an excess of 40,000 institutional and individual clients in more than 30 countries. The company’s investors include Macquarie Americas Corp Inc., a wholly owned subsidiary of Macquarie Bank, and GFI Group Inc.
For that matter, let’s note that Advanced Markets recently expanded its prime brokerage relationships by adding UBS, augmenting its liquidity credit lines.
“We are pleased to team with Fortex to provide clients with top-tier institutional liquidity,” said Anthony Brocco, Executive Chairman, Advanced Markets Ltd. “This joint venture supports our ongoing commitment to transparency while enabling us to serve more clients with ultra-low latency execution, superior execution quality, and algorithmic trading along with our optimized MT4 environment. With Fortex technology underlying the new PoP service, we have exceptional market agility that allows us to bring more opportunities to our clients.”
The FAM Clearing, LLC joint venture has its own sales team of 10, led by Natallia Hunik, Global Head of Sales. The joint venture will extend access to the PoP service offering through locations in Boston, Shanghai, and London.
This is not the first time Fortex and Advanced Markets are partnering. The two companies have co-developed a set of key products and services for fund managers and brokers, including UltiMT™, a fully integrated MT4 broker solution. In November 2014, they collaborated to launch Algo X, a new open source algorithmic engine.
Earlier this year, the companies announced the hiring of a global, 10-person sales team formerly affiliated with Boston Technologies Inc, in order to build the two firms’ global sales presence.
To view the official press release on the latest strategic partnership of Advanced Markets and Fortex, click here.