FX Industry Vets Launch New Prime-of-Prime

Three FX industry veterans have combined to launch a new prime-of-prime business, JP Prime, which will initially support FX and commodities but is also looking to expand into digital assets.

Raj Sitlani, Jonathan Brewer and Jeff Wilkins are behind JT Prime, which is part of retail brokerage JT Markets, which launched in 2024, and say they have been laying the foundations for the new business, leveraging established bank and non-bank relationships to build a liquidity offering. As part of its growth strategy, the firm plans to expand its regulatory footprint, and currently have an application for regulatory approval pending in “a major western market”.

Sitlani and Brewer previously worked together in senior e-FX roles at Goldman Sachs before co-founding IS Prime (now Isam, Securities) where they were joined by risk management expert, Jeff Wilkins who headed up IS Risk Analytics. 

“Jonny, Jeff and I have considerable experience of building successful institutional businesses and a deep understanding of what clients need from a Prime of Prime,” says Sitlani. “We see a clear opportunity for a boutique, best-of-breed provider that combines institutional-quality liquidity and technology with a genuinely personalised approach to client relationships.”

Wilkins adds, “Our DNA is very much institutional and we understand the challenges our clients face. Our approach is consultative and hands-on, helping clients optimise their liquidity arrangements, identify the most suitable liquidity providers and improve the performance of their businesses.” 

Meanwhile Brewer observes, “Our expertise lies in building a high-quality liquidity offering and managing institutional trade flows – and Raj, Jeff and I have an exceptional track record in delivering results for our clients. With JT Prime, we’re returning to the fundamentals of the Prime of Prime model: providing clients with access to a wide pool of Tier 1 liquidity through a clean, agency-style execution model that aligns our interests with theirs. We’ll be selective about the clients we work with, focusing on building long-term relationships and delivering exceptional service, liquidity and execution.”