In a move designed to expand two companies presence in the foreign exchange markets and grab market share, Seabury FXone and Spotex are joining together to automate order management and link it to dark liquidity.
Seabury Financial Solutions LLC (FXone), a subsidiary of Seabury Group and a provider of FX liquidity management solutions and Spotex, a FX ECN focused on forex for both the buy- and sellside look to expand their institutional client base and help automate trading in the currency sector, which still remains behind its institutional equity market counterpart in terms of electronic trading prowess.
According to the firms, FXones established global distribution footprint and Spotexs unique price aggregation and matching capabilities will both grow the companies institutional client base while continuing to service the retail brokerage and white label business. Under the agreement, Spotex will integrate FXones leading-edge enterprise software applications GUI and Order Management System (OMS) into their market place while FXone will have access to Spotexs liquidity and execution capability for FX and precious metals, including Asset Manager, Trade Copier and IB management modules.
Were very excited to be working with Spotex to deliver an end-to-end FX trading and white label solution combined with an execution capability that spans the globe, said FXone Chief Executive Officer Margaret L. Chan. Our companies offering will benefit Buy & Sell Side clients and retail brokers looking for better liquidity and a sophisticated white label product with a functional GUI with programmable interface and very flexible order types.
Spotex is an FX ECN focused on improving currency trading for both institutions and retail brokers.
FXone – Seabury Groups Trade Execution and Liquidity Management System offers a full suite of execution services and Smart Order Routing. Access to any LP is via industry standard FIX API, and the most powerful and flexible GUI in the institutional FX space.
