Fortex Inc., one of the leading electronic communication network (ECN) trading platforms, has recently attended the iFXEXPO Asia 2016 in Hong Kong, an event that gathered over 2000 FX industry professionals from all around the world. Fortex had a strong presence at the event and had a lot to share about the existing and new offerings, as well as their opinions on the ever-changing industry landscape and the plans for 2016. In the interview to one of the leading industry news outlets, Natallia Hunik, Global Head of Sales at Fortex has stated:
“There are a couple of important areas that I would like to focus on where Fortex is concerned, one of which is the extensive development work that we completed in 2015. We have employed significant resources towards refining our product solutions for our Chinese clients and have been preparing for this event for quite some time. The second important development is that the Company launched a major product called xForce Prime of Prime Suite. We at Fortex have yet to make the official announcement on this, however we launched this suite to address, what we see as, a current gap in the market where many brokers are looking to become liquidity providers and to distribute their liquidity to their partners as they grow their business. But the solutions currently on offer are either too costly and high-end, requiring a Tier 1 Prime Brokerage account, or at the low-end of the spectrum, not scalable, poorly performing and built around MT4.”
The new product is designed to fill this void, by facilitating liquidity aggregation. It utilizes the following components; the Fortex xBook ECN solution, premium hosting at the Equinix NY4 and HK3 data centers, the Fortex 5 institutional trading platform (for omnibus account management), sophisticated risk-management tools, FIX API access for partners and the Fortex OMX MT4 liquidity bridge. The suite also incorporates a middle and back office solution. Using this platform, brokers can issue omnibus accounts to their white label partners. They can also extend FIX API access to their partners.
This solution is for any broker that wants to become a liquidity provider in their own right and elevate their business to the next level by onboarding funds, white label partners, and professional traders. There are similar products in the market, however the main differentiator is that Fortex is able to offer its own proprietary platform, featuring real-time quotes, real-time reporting and real-time liquidity management allowing brokers to manage their partners’ corporate accounts effectively.
“There are very few brokers in this market that have access to Tier 1 prime brokerage services, mainly because of the credit tightening that ensued following the Swiss National Bank’s removal of their 1.20 floor on EURCHF early last year. The Fortex/Advanced Markets product suite offers the best of both worlds, access to Tier 1 prime brokerage with Tier 1 liquidity and cutting-edge technology. As a result, many companies no longer need to live with the large fees associated with institutional platforms such as Currenex.”
“The market is very vibrant in China. Brokers who have been in the market for 5 years or so, and have reached their plateau, are looking to elevate themselves to the next level. Business here is very MT4 centric so, until now, there has been no real product solution that allows them to create real white label solutions and onboard broker partners”, concluded Ms. Hunik.
One of the major Chinese financial media outlets, FX678, also interviewed Natallia Hunik, Global Head of Sales at Fortex. You can view the full version of the interview below.