Advanced Markets, an institutional foreign exchange liquidity and prime-of-prime service provider, has announced that it has signed Standard Chartered Bank as a foreign exchange prime broker. The addition will further extend the range of clients that can use prime brokerage to trade via Advanced Markets’ Direct Market Access (DMA/STP) liquidity infrastructure.
Having Standard Chartered Bank as a prime broker enables us to better serve institutional market participants and further solidifies our standing as a leading prime-of-prime service provider to brokers, banks and fund managers,” said Anthony Brocco, Founder and CEO, Advanced Markets.
Standard Chartered will provide prime brokerage services to the newly launched FCA-registered Advanced Markets (UK) Limited operation based in London as well as the company’s ASIC-registered operation. The companies operate as independent entities and will have discrete prime brokerage accounts at the bank.
Commenting on the new arrangement with Advanced Markets, Matthew Walsh, Head, Prime Services Sales Americas, Standard Chartered commented:
We are pleased to provide FX prime brokerage services to enhance market access for institutional market participants. Advanced Markets’ transparent, direct market access agency model, which enables clients to trade on top-tier bank liquidity, fits well within our strategy.
Advanced Markets’ Direct Market Access (DMA/STP) liquidity model, which the firm pioneered upon its launch in 2006, enables FX market participants to trade anonymously on prices streamed by leading liquidity providers in a fully transparent, anonymous market structure. The combination of the firm’s DMA/STP model and robust low latency trading infrastructure has driven participation from leading brokers, fund managers and other institutions.
The new Standard Chartered facility complements Advanced Markets’ existing prime brokerage and credit relationship with UBS. In addition to prime brokerage, eligible corporate clients may set up custodial accounts with Macquarie Bank to support trading via Advanced Markets. This structure provides enhanced security because a client’s funds are held in its name in a custodial account.