FNG Exclusive… FNG has learned that FCA regulated institutional FX broker Global Market Index Ltd, which operates under the brand GMI UK, has seen a significant pickup in activity during the first three months of 2021, after what appears to be a disappointing 2020.

GMI UK’s just-released 2020 financials (see below) indicate that the company saw a 32% decline in 2020 Revenues, to £931,776, although after a loss in 2019 the company did turn a slight profit of £167,000 in 2020.

However we understand from sources at the company that GMI UK has seen a near three-fold increase in activity so far in 2020, after adding a number of very large Asian institutional clients at the end of last year.

GMI UK is an FCA-regulated provider of turnkey solutions to institutions and brokerages. The company acts as a B2B/STP-ECN broker, providing customizable and low-cost liquidity for professionals and institutions. GMI UK continues to utilize proprietary software developed by an associated company (Finstek) for the provision of key parts of its infrastructure such as Bridge, FIX API, and advanced price aggregation technologies. Its model and FCA permissions only allow it to act as matched principle so no risk is taken on any client trades.

The company said that revenue drivers in 2021 are expected to come from four core areas:

1. Market leading liquidity and White Label solutions for institutional clients targeting MT4 and MT5 brokers.

2. Continued focus on Professional traders. Given its positioning and strength in the institutional space, GMI UK said it is well placed to meet the needs of the Professional trader.

3. Continue to work in partnership with its associated company Finstek and utilize the Finstek technologies such as its Bridge and Aggregation software. This allows GMI UK to pass on savings to the client and compete on price as well as to compete on execution speed and quality of service, especially as the company is no longer wholly reliant on third parties.

4. Increasing geographical reach and number of converted clients.

GMI UK is controlled by the company’s CEO Ashraf Ebid. We reported just yesterday that the company’s Head of Sales Chris Hossain-Nelson has left GMI UK, and we understand that the company is actively recruiting for his replacement. GMI’s 2020 income statement follows.