ASIC and FCA authorized and regulated Prime of Prime Liquidity Provider, Advanced Markets Group has just announced that it has teamed up with the software company Tradefora.
Founded in 2016 Tradefora PLC is a company specializing on best execution and regulatory reporting services for brokers, traders and regulators.
The introduction of RTS 27 and 28 reports into the EU regulatory framework is a marquee development that is aimed to increase transparency and foster trust relationships between brokers and their clients.
Advanced Markets is pleased to cooperate with Tradefora in this great mission of delivering crucial information on a broker’s quality of execution, and execution venues, benefitting both traders and regulators alike. Via this partnership, FX institutions can take advantage of Advanced Markets interbank liquidity feed, and Tradefora’s innovative RTS27 reporting facility, along with other feed monitoring and benchmarking tools”, said Natallia Hunik, Global Head of Sales at Advanced Markets Group.
Pavel Khizhnyak, Co-Founder and CEO of Tradefora, commented:
We are delighted to partner with Advanced Markets as one of the leading liquidity providers in the FX OTC space and a company that shares our drive towards more market transparency. This partnership will enable us to further enhance our benchmark pricing tools across all the supported instruments with institutional level refresh rate frequency and full market depth analytics. This marks an additional major development phase for us as we continue to aggregate top LPs to comprise a comprehensive institutional liquidity pricing index.
With retail traders as our first users, we started Tradefora by aggregating more than 100+ retail broker price feeds to produce a peer-to-peer benchmark pricing index, aka Tradefora Composite Index or TCI”. Every trader in Tradefora has full access to this benchmark index and can independently verify the trade execution for free in near real-time. Having a more robust institutional level reference price index will provide us with an ability to check not only the Top of the Book prices, but also to verify the VWAP execution quality across the entire market depth with millisecond precision.
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