TrueFX teams up with Axicorp, FXCM and Velocity Trade to launch Clearing Member network

TrueFX, spot trading facility delivered by Integral, announced today the launch of Clearing Member network. Axicorp, FXCM, Velocity Trade and TrueFX have formed a partnership to support customer access to the ecosystem.

The collaboration allows clients to clear through Jefferies FXPB, TrueFX’s central credit counterparty, or open an account with a TrueFX Clearing Member and directly access liquidity on the platform.
The new TrueFX Clearing Member network provides buyside firms with direct access to liquidity from market makers, without and intermediary. Market makers can give customized pricing bi-laterally to all customers, no matte their direct credit relationship.

Brendan Callan, CEO of FXCM stated:

TrueFX is an exceptional step forward in the integration of connectivity, liquidity, clearing and bridging technology. Bringing these services together in one seamless ecosystem allows for significant costs savings to the end client. Kudos to Integral and Jefferies FXPB for bringing TrueFX to market. FXCM is happy to be an original Clearing Member on the system.

Harpal Sandhu, CEO of Integral and technology provider for TrueFX commented:

Harpal Sandhu Integral CEO

Harpal Sandhu, Integral

The size and scale of our clearing members allows TrueFX to service many more segments of the buy-side community. Having introduced significant efficiencies and cost reductions to the market through TrueFX, we look forward to bringing those savings to the widest possible user base. The launch of the TrueFX Clearing Member network will accelerate that process.

TrueFX gives options for unlimited small tickets and includes connectivity, aggregation and MT4 bridging technology for free.

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