FNG Exclusive Interview… After recently reporting that longtime FX industry executive Chris Hossain-Nelson had left GMI and joined FCA licensed INFINOX to accelerate growth of its IX Prime institutional division, we thought it would be a good time to chat with Chris and catch up about the move, what’s up in the world of FX (and CFD and crypto) liquidity, and what’s ahead.

Here is what he had to say.

FNG: Hi Chris, and thanks for joining us today. Please let us know a little more about your recent decision to move to INFINOX.

Chris: Thanks for giving me the opportunity to talk with you today. I’ve been aware of INFINOX for a long time now, and have watched the business grow from afar. I’ve known Jay Mawji (Managing Director) for a decade and have been kept abreast of developments, including the hugely experienced team they’ve assembled, and the growth of their product offering.

In the short time I’ve been with INFINOX, I have already seen for myself that it is a dynamic business with a truly entrepreneurial spirit. I am excited to be here and to help build out the IX Prime offering.

FNG: Tell us how IX Prime’s liquidity provision offering to broker partners will stand out?

Chris: Liquidity provision will be central to the success of IX Prime. Historically a LP would be judged on the ability to provide tight spreads, healthy depth and high fill rates all within a low latency environment. That is still very much the expectation, but to be blunt, there is very little to differentiate amongst LPs if you are focusing on solely those three factors. The modern-day LP has to be able to offer much more.

Clearly, these requirements are still extremely important, and IX Prime can deliver this for clients, but the market has evolved and you need to be able to offer a full package of value-added extras. Sometimes we all need to remember that none of us invented EURUSD, it’s a commoditised product that we all sell, so it’s important to understand how LPs can differentiate themselves from one another. Broker clients need to ask themselves, can your current liquidity provider offer the following:

· 300+ instruments including FX, Indices, Commodities, ETFs, stock CFDs, Cryptos & Futures via API, MT4 or MT5

· Negative balance protection

· Credit lines available to clients

· Access to liquidity via MT4, MT5 and API

· Pricing via LD4 and with sub 25ms execution

· Competitive commercial agreements

· All funds are held in segregated accounts in Tier One banks – your funds remain segregated with retail money permissions at all times

· EMIR reporting is available

· Swap free offering is available on certain products

· A range of deposit methods

IX PRIME can offer all of the above, and so is considered a very strong proposition. We believe a “one-size fits all” approach to liquidity does not work. As a LP, the ability to be flexible, entrepreneurial, and understand the true meaning of ‘partnerships’ is essential.

FNG: The liquidity arena has become very competitive – what challenges do you see there going forward, as traders go much more multi-asset?

Chris: The world has got smaller, so LPs need to understand local nuances and adopt a holistic approach to business. As IX Prime expands into different territories, we understand that every client has their own unique requirements, and we will continue to be mindful of that.

The advent of MT5 was a watershed moment for our industry. The days of offering a basic FX and Index CFD suite are behind us. Single Stock CFDs are back in fashion, so it is important to have the ability to react to clients’ demands – the market has matured and Liquidity Providers have needed to evolve.

IX Prime will be an agile and proactive provider of liquidity. We currently offer more than 300 products and have the ability to source more products on demand. Forex, Index and Commodity CFDs, Single Stock CFDs, Crypto, ETFs, and Options are all available to clients of IX Prime.

FNG: What are your thoughts for the next 12 months for the FX and CFD brokerage business?

Chris: The past year has seen wholesale global changes, but we should be proud of how we have remained resilient and adapted as an industry. It feels that we are closer to the end than the beginning of the global pandemic and are now ready to move forward and continue to thrive.

While we have adapted to the new world of Zoom, Google Hangouts, etc, the ability to get back on planes and meet one another face to face will provide opportunities to solidify relationships and form new working partnerships. IX Prime is positioned nicely to offer clients an appealing competitive offering. Our experienced team understands what the word partnership means, and will work in tandem with Brokers to accommodate their trading needs.

FNG: What other things can we expect to hear from INFINOX and IX Prime in the coming months?

Chris: INFINOX is a firm that is committed to providing technology and resources to match our clients’ requirements. The launch of the IX Position Keeper is a big step forward – a tool that allows liquidity clients to gain deeper insight into their flow, with the analysis to maximise their revenue.

We have also been growing our Exchange Traded business. We’re finalising new relationships with 2 providers that will give our clients access to a wider range of products on some of the most recognised platforms in the exchange-traded space.

There’ll also be an emphasis on getting to know our IX Prime team. Dedicated social media pages, improved website information and exclusive interviews with senior members of the IX Prime team will all showcase the full package we offer to clients.