The FX prime brokerage businesses at JP Morgan and NatWest Markets are now providing access to Spotex’s institutional ECN.
The prime brokers join as Spotex is seeking to expand its presence in the institutional FX market segment with the introduction of its new disclosed direct market access (DMA) liquidity pool offering, as well as other initiatives to broaden participation on its ECN.
“We are excited to have JP Morgan and NatWest Markets join our existing tier-one prime brokers enabling institutional client access to Spotex,” says John Miesner, the firm’s executive managing director. “We are committed to working with leading FX institutions to deliver powerful innovation to the foreign exchange market.”
Spotex provides FX technology on a wholesale basis to brokers, institutions and fund managers. The firm’s institutional ECN offers a continuous 24/5 trading week with no end-of-day shutdowns, as well as performance-based matching logic designed to improve fill ratios and response times.
Spotex’s technology supports its institutional ECN as well as bespoke disclosed DMA liquidity pools, which institutions can deploy to trade directly with select liquidity providers on a disclosed basis.