News

Straits Financial to Provide Prime-of-Prime Brokerage Services to Spotex

Feb 05, 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.

“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 as we roll out a number of 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 who is a full Clearing Member 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.

For more information, visit www.straitsfinancial.com.

About Spotex LLC

Spotex provides foreign exchange technology and liquidity solutions to the global foreign exchange markets. Spotex aIso operates the Spotex ECN, which is supported by leading FX bank liquidity providers and FX prime brokers.

The company is based in the Newport Financial Technology Center in Jersey City, New Jersey.

Its website is www.spotex.com.

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