SINGAPORE and JERSEY CITY, NEW JERSEY, January 31, 2020 - Straits
Financial Services Pte. Ltd. ("Straits Financial"), a
leading broker in the Asia-Pacific region, is now providing
prime-of-prime ("PoP") brokerage services to Spotex, a
developer of modular, technology systems for foreign exchange
brokers and institutional ECN operator. The agreement enables
clients to access institutional FX liquidity via Straits
Financial and provides a gateway for brokers to deploy
Spotex's modular technology solutions.
Straits Financial will now provide
credit intermediation and liquidity to broker and fund manager
clients as a Spotex PoP. This includes Straits Financial's
proprietary institutional liquidity accessed via a dedicated
Spotex Broker Liquidity Hub and from Spotex's institutional
ECN.
Straits Financial will also deploy
Spotex technology to expand the range of functionality it
provides to brokers. New functionality will include
multicurrency PAMM, MAM, IB management, and trade copier/social
trading.
"We are pleased to provide
credit intermediation and liquidity to a new set of FX brokers
and fund managers through our prime-of-prime brokerage agreement
with Spotex," said Raymond Mok, Global Head of FX, Straits
Financial."We look forward to working with Spotex to
provide credit intermediation, technology solutions and
liquidity to clients across the Asia Pacific region."
Spotex provides complete, modular
FX broker technology systems that are fully integrated with its
ECN and dedicated Broker Liquidity Hubs. The white-label
technology supports multilevel credit and margin management to
layers of brokers and sub brokers as well as introducing
brokers.
"We are excited to offer
clients world-class credit intermediation and FX liquidity
provided by Straits Financial, an acknowledged leader in the
Asia-Pacific region," said John Miesner, Chief Executive
Officer, Spotex. "We expect our joint offering to be of
great interest to fund managers and retail FX brokers,
especially as we continue to roll out technology innovations in
the months ahead."
About Straits Financial
Headquartered in Singapore, Straits
Financial Group Pte. Ltd. ("Straits Financial Group")
is the brokerage house under CWT Pte. Limited that offers a full
spectrum of derivatives & OTC products, including trade
facilitation for physical commodities. Established affiliate
offices are in Chicago, New Jersey, Shanghai and in Jakarta.
Straits Financial Group consists of affiliated companies which
are full Clearing Members of the Chicago Mercantile Exchange
(CME), Chicago Board of Trade (CBOT), New York Mercantile
Exchange (NYMEX), the Commodity Exchange (COMEX), CME Clearport,
Dubai Mercantile Exchange (DME), New Zealand Exchange (NZX),
CBOE Futures Exchange (CFE), Nasdaq Futures (NFX) and Asia
Pacific Exchange (APEX). It is also the first batch of Overseas
Broking Special Participant of the Shanghai International Energy
Exchange (INE). Straits Financial Group offers clearing access
to all major global commodity exchanges.
About Spotex LLC
Spotex provides foreign exchange
technology and liquidity solutions to the global foreign
exchange markets. Spotex also operates the Spotex ECN, which is
supported by leading FX bank liquidity providers and FX prime
brokers.
Spotex provides a full range of
proprietary technology, liquidity, and credit options to enable
brokers to configure out-of-the-box or bespoke operating
environments that best support their business strategies and
market positions. Brokers benefit by quick-to-market, complete,
end-to-end interoperability and best-in-class uptime
performance.
Spotex technology and liquidity
solutions enable FX brokers and institutional market
participants to create their own, innovative trading paradigms.
These include disclosed DMA liquidity pools for Institutions and
discrete liquidity hubs for Brokers as well as direct access to
a low latency ECN.
The company is based in the Newport
Financial Technology Center in Jersey City, New Jersey.