FXMarketSpace Receives FSA Authorisation

Discussion in 'Forex Brokers' started by Hayek, Feb 13, 2007.

  1. Hayek


    London/ Chicago/ New York – February 12th 2007. FXMarketSpace, the first centrally-cleared, global foreign exchange (FX) platform for the over the counter (OTC) market, today announced that it has been authorised by the Financial Services Authority as an Alternative Trading System.

    Additionally, FXMarketSpace successfully completed its customer testing program. For the past eight weeks, over 25 FXMarketSpace customers, comprising banks, prime brokers, hedge funds and proprietary trading funds, have successfully tested connectivity and trading using sample data on FXMarketSpace. The extensive testing program encompassed both automated trades dealt via direct connection to the CME Globex® API, and screen-based trading using FXMarketSpace on Reuters.

    A select group of Early Adopter Program (EAP) customers have begun further testing on FXMarketSpace executing genuine FX trades. More EAP participants will be added, as prime brokers connect their customers to the FXMarketSpace platform. Access to FXMarketSpace has been enhanced with the addition of four Independent Software Vendors: Flextrade, GL Trade, Patsystems and Trading Technologies International, Inc.

    During the last quarter, FXMarketSpace has added a further 25 customers to its onboarding list, increasing the total number to 69.

    “We have made significant progress over the past two months in terms of customer testing, enhanced access, obtaining FSA authorisation and adding new customers”, said Mark Robson, CEO of FXMarketSpace. “The ongoing investment being made by our customers to test our platform shows considerable commitment and is further evidence of the market demand for a centrally-cleared OTC FX platform. FXMarketSpace remains firmly on track for launch in early spring.”
  2. MrAngry