ECN and FX technology provider Spotex has unveiled new functionality that will enable brokers to configure discrete liquidity pools for clients that will run on the firm’s modular broker technology.
To date Spotex says it has provided its ECN and proprietary, modular FX technology on a wholesale basis primarily to brokers and money managers and that brokers, especially those offering pure agency (or “A” book) execution models, are the main users, however the introduction of discrete liquidity hubs will enable brokers to provide new liquidity models to clients.
“We are excited to roll out this new offering, which we’ve developed in close collaboration with key broker clients,” says John Miesner, senior managing director, Spotex. “The new hub offering will enable brokers to configure liquidity pools that best fit their business models and the trading objectives of their clients.”
In addition to running on Spotex technology, the new hubs will take advantage of Spotex’s network of FX liquidity providers, prime brokers and prime-of-prime brokers. To set up a new liquidity hub, a broker selects liquidity providers from those available through its prime brokers and/or prime-of-prime brokers. A broker can also integrate its own price feed.