Exclusive: Stepping into MENA’s rapidly growing institutional liquidity industry
FNG Exclusive Interview… One of the key focus areas for many retail and institutional FX brokers over the past couple of years has been the MENA region. We’re pleased to speak today with INFINOX Head of Institutional Sales MENA Aaron Brown on why relationships are a crucial differentiator in the institutional liquidity industry, and on how INFINOX aims to deliver more in a highly competitive sector.
FNG: Hi Aaron, and thanks for joining us today. Please tell us about the IXO Prime liquidity service for broker partners, and how it stands out from other offerings in this space?
Aaron: Liquidity provision is the core to IXO Prime’s offering, but liquidity providers are now judged on much more than that. Where clients used to just want tight spreads, healthy depth, and high fill rates in a low latency environment, now they expect the full package.
What this tells us is that they’re looking for:
- A range of instruments including FX, indices, commodities, ETFs, stock CFDs, cryptos & futures
- Negative balance protection
- Credit lines
- Access to liquidity via MT4, MT5 and FIX API
- Connectivity to multiple bridge/tech providers
- Competitive commercial agreements
- Segregated accounts within Tier One banks
- EMIR reporting
- Swap free offering
- A wide range of deposit methods
IXO Prime offers all of this for clients. For example, we have over 900 instruments available via API, MT4 or MT5. IXO Prime clients have their funds held in segregated client accounts with Tier 1 banks at all times, ensuring their funds are protected. We also provide competitive pricing via LD4, depth of market, and high fill rates, all with a quick plug and play setup via a number of tech vendors we work with.
That being said, this is a highly competitive market that we’re talking about. And so, there can be little to differentiate liquidity providers nowadays.
The IXO Prime differentiator, and the reason our clients form close partnerships with us, is because our commitment to our clients is second to none. Our clients have the ability to manage their liquidity through one point of contact. With service that is this personal and round the clock, our clients receive unparalleled attention from us at every point of need.
Our commitment to our clients creates important relationships, our clients trust us and we value them. This lets us both focus on the most important objective, our client commercialising their business.
FNG: You joined IXO Prime very recently in April. Why did you choose to make the move?
Aaron: Joining IXO Prime was an easy decision. I’ve watched how the INFINOX brand has grown over the years, with a formidable executive team now at the helm. Having worked alongside some of the team in previous roles, I know that their personal approach to business is the reason they are able to keep long standing, fruitful relationships with clients.
It’s clearly working – the business is seeing incredible growth right now and it felt like the right time for me to step in and help grow the business in the MENA region. And in the short time I’ve been here, I’ve been able to do just that by providing my clients with the customised solutions they’re looking for.
FNG: IXO Prime has been expanding – what more can we expect?
Aaron: Clients join IXO Prime for our liquidity and technology, but they stay for the relationships, attention to detail, and service they receive. We’re committed to expanding this approach, ensuring that all clients have that personal support they require to deliver one of the best trading environments to their clients.
The fact that our team is growing will help us scale this first class support not only in the MENA region but also further afield. On the product side too, we’ve recently added multiple cryptos and more than 560 new share CFDs to the offering, and intend to grow this further.
Alongside all this, we also understand the need for security in our business and are always looking to grow our global regulation pool. This is important to us because having the right regulations in the right regions I think is proof of our commitment to value our clients’ business.
FNG: With your years of experience in this industry, what have you learnt about the needs of clients in the MENA region?
Aaron: MENA clients’ requirements centre around the markets they trade and the relationships they hold. Firstly, they want a liquidity provider with a highly responsive service that focuses on their needs as they change. That’s where we come in with our ability to identify our clients requirements and fine-tune solutions quickly and professionally.
Next, the MENA region also boasts some of the largest oil-rich countries in the world as well as a booming precious metals industry for both physical and spot trading markets. While diversification is key in the region, there is still a focus on those markets, and understanding that helps us meet our clients’ trading needs in a more intuitive way.
FNG: What are IXO Prime’s plans for Dubai and the wider MENA region?
Aaron: Dubai being a financial services hub for the MENA region, has seen an influx of FX and CFD brokers of late. As one of these brokers, having a domestic presence within the region through our Dubai office really provides a springboard to boost our global business. Being at the doorstep of our clients administers confidence, we’re in the same time zone, and are always available to meet face to face.
Being local also allows us to understand important local regulations and expectations in the region and to our clients. It will offer a strong foundation for further regional growth and solidify our presence in the region.
For us at IXO Prime, it all ties back to that laser focus on commitment to our clients and building strong relationships. While this is true in all our business locations, we know it really stands out to clients in the MENA region and is why we’re committed to expanding this approach.