CFH Clearing switches FX Prime Brokers

BofA Merrill Lynch replaces UBS as CFH’s primary forex prime broker.

Institutional FX brokerage CFH Clearing announced today that it has selected Bank of America Merrill Lynch as its new FX prime broker and its primary prime broker, as of August 1. London-based CFH will continue to work with UBS as a prime broker, predominantly for Precious Metals.

CFH recently went through a rebranding, changing its name (and website) from CFH Markets to rebrand CFH Clearing. The name and image change was made primarily to reflect CFH’s business operations as an interbank prime of prime solutions provider to small and medium sized institutional clients. CFH has moved away from providing institutional clients its own liquidity pool, to having a greater focus on facilitating bank access — the new CFH Clearing name emphasizes CFH’s role on the credit and clearing side of the business.

Based in London, CFH was co-founded by ex Saxo Bank exec Christian Frahm, and ex State Street / Currenex Europe head Lars Holst.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.

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