Advanced Markets 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) liquidity infrastructure.
“Having Standard Chartered Bank as a prime broker enables us to better serve institutional market participants,” says 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 in Australia. The companies operate as independent entities and will have discrete prime brokerage accounts at the bank.
“We are pleased to provide FX prime brokerage services to enhance market access for institutional market participants,” says Matthew Walsh, head, prime services sales Americas, at Standard Chartered. “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 says the new Standard Chartered facility complements its 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.