Integral, FXCM Pro, Launch Cleared CFD Platform
Posted by Colin Lambert. Last updated: November 10, 2021
Integral and FXCM Pro have launched CFD Prime, a centrally-cleared platform for contracts for difference (CFDs), with the first trade being executed with Jump Trading.
The firms say the new platform brings all the benefits of prime brokerage to the CFD market, including consolidated margin, account opening and netting; resulting in reduced transacting costs. Users are able to trade in standardised CFD products including major indices, commodities and crypto currencies, utilising the prime brokerage services of FXCM Pro, which will provide its balance sheet along with its post-trade infrastructure. This will provide, the firms say, clients with the margin and operational benefits of a single account, while Integral’s technology platform allows clients to use a single connection to get aggregated prices and transact with multiple liquidity providers without having to form multiple bilateral relationships.
“We are committed to upgrading the trading experiences of our clients, and our new CFD Prime service is the latest in the long line of our innovations designed to do exactly that,” says Brendan Callan, CEO of FXCM Group. “We’re harnessing 20 years of experience, as well as leveraging the latest advancements in technology to pave the way for a more diverse and vibrant global CFD trading community on our platform.”
Harpal Sandhu, founder and CEO of Integral, adds, “Integral’s innovations have always been centred on providing clients with unrivalled access to credit and liquidity. Unlocking direct access to leading CFD market makers through a single credit and technology relationship is a big step forward in what has been a bilateral market, until now.”
Meanwhile, Bo Bjurgert, head of business development at Jump Trading, says, “This innovation is a truly ground-breaking development in the CFD market structure. By enabling LPs and customers to trade directly with each other, without the burden of managing multiple bilateral relationships, traders of CFD products will realise significant liquidity and cost benefits.”