FXCM, one of the world’s largest FX brokers has again announced likely changes to take place in its operations. The firm had previously announced plans to sell some institutional non-core assets, but this has not precluded FXCM from continuing its normal institutional business.
FXCM Pro– which is the institutional trading arm of the firm will focus more heavily on its wholesale business as it continues to serve small hedge funds, retail brokers as well as emerging market banks. Services covered in this category include provision of tailored pricing and execution, cross collateralisation of FX and CFD’s in one account, and custom settlement solutions.
FXCM Prime- which is the firms Prime of Prime business department will focus on high frequency trading customers (HFTs). Here, users are provided with clearing across multiple venues, including direct access to single banks, for fast execution along with pre-trade and post-trade risk monitoring. This will be handy for HFTs and funds.
Brandon Mulvihill, Global Head of Institutional Sales at FXCM said: “With the pending disposition of institutional non-core assets we are now purely focused on mobilising more resources to our wholesale business, where we have seen tremendous success. In 2014 this business line produced approximately $1 trillion in trading volumes and proved post January 15th to be among the most resilient institutional clientele at FXCM.”