The Swedish regulated broker, Scandinavian Capital Markets (SCM) has announced a new institutional trading offering in partnership with Currenex. The cooperation between the firms includes technological, operational and reporting synergies to launch a new FX trading service specific to institutional clients.
SCM has been known to provide competitive services to both retail and institutional investors that go above and beyond what has traditionally been offered in the FX industry. Given Currenex’s position, customers using the new service will be able to access deep pools of liquidity and superior execution.
According to the announcement by SCM, the key highlights of the new program include:
- Multiple liquidity sources for deep pools with RFQ/RFS execution method providing disclosure across more than 60 banks
- Anonymous streaming to thousands of diverse participants and liquidity sources
- Competitive pricing across a variety of instruments
- Full straight-through-processing (STP) to a treasury management system (TMS) or order management system (OMS)
- Reporting with access to complete trade history, audit trail, trade pattern analysis, and counterparty analysis
- Permissions security across different locations and business units including segregation of duties, system access control, record retention, and backup/contingency
David Newns, Global Head of GlobalLink Execution Services provided comments to SCM as part of the announcement: “Our private-label solution provides sophisticated access to the FX and precious metals markets, as well as the ability to operate a trading venue without the need for expensive hardware investment, and can be deployed quickly.”