Spotex, a developer of foreign exchange (FX) modular technology systems, has just announced that it has signed INTL FCStone Markets, LLC to provide prime services enabling clients to access Spotex’s institutional ECN.
LeapRate reminds that Spotex is in the process of launching a slate of new products and services to the brokerage and fund manager market segments. J.P. Morgan and NatWest Markets already joined Spotex two months ago.
Fred Allatt, Managing Director – North America FX Sales, INTL FCStone Markets, LLC, commented on the news:
We are excited about the opportunity to offer Spotex as an additional ECN within our prime of prime offering. Our client base of professional traders, hedge funds, CTA’s and broker dealers will benefit from having this additional venue to access competitive spot pricing and superior technology, while utilizing INTL FCStone Markets, LLC as their financial intermediary. We look forward to growing our relationship with the Spotex team.
Access to Spotex’s wholesale and institutional liquidity is facilitated by leading bank FX prime brokers, prime-of-prime brokers and prime service providers.
We look forward to working with INTL FCStone Markets, LLC to expand access to our ECN from brokers, fund managers and other institutional market participants,” said John Miesner, Chief Executive Officer, Spotex. “We see the Spotex ECN’s combination of uncorrelated trade flows and its robust, low-latency matching technology providing value to INTL FCStone Markets, LLC clients across the globe.