Tag: Lucid Markets

Lucid Markets

And Another Thing…

Confirmation, to me at least, that we need to talk about market participants in more nuanced terms comes in the form of recent news and that perennial source of good gossip – the rumour mill.
I have banged on enough about the need to get away from the “bank/non-bank” divide because quite frankly it doesn’t exist anymore. I have also argued before about re-thinking how we bucket providers in this business and I strongly believe that the greater transparency that will come with better explanations of risk management policies will drive such a change.

Updated Story: Lucid Markets Shuts Down

Market sources tell Profit & Loss that Lucid Markets has sent out a communication to all clients stating it is closing its business effective immediately.
The firm, which is majority owned by FXCM, which holds a 50.1% stake through its UK arm, is a electronic market maker in FX.
Although there is surprise at the suddenness of the announcement and the immediate closure, Lucid has been, according to its latest filing in mid-2017, “actively marketed for sale” by FXCM as the latter continues to divest itself of assets following its rescue by Leucadia in early 2015.

Invast Global Adds Lucid

Invast Global has announced a new partnership with Lucid Markets, meaning clients of the Invast Global multi-asset prime services facility, PurePrime, will have access to proprietary FX pricing from the market making firm.
The partnership with Lucid expands PurePrime to over 20 unique FX and metals liquidity providers including names such as Citadel Securities, XTX Markets and Virtu Financial. “This line-up represents a new era of access for clients,” Invast Global says. “Never before have clients without direct Tier 1 prime brokerage relationships been able to access the liquidity provided by the non-bank market-making giants.”