TrueFX, a purpose-built OTC market designed for the buy-side, has announced that Straits Financial Services Pte Ltd (“Straits Financial”), a Capital Markets Services License company based in Singapore, has joined TrueFX as a clearing member to enhance their clients’ access to forex liquidity.

As a TrueFX Clearing Member (TCM), Straits Financial will provide FX brokers and buy-side firms of all sizes with direct market access to liquidity on TrueFX. Users benefit from access to all market makers on the venue, who in turn can provide them with customized pricing.

Raymond Mok, Straits Financial Global Head of FX said,

“As a leading financial institution in Asia, we want to provide our institutional clients with fair, transparent, and efficient access to the market. TrueFX aligns with these values, and we are pleased to join the network as a clearing member and demonstrate our commitment to this exciting initiative.”

Harpal Sandhu, CEO of Integral and technology provider for TrueFX added:

“The size and scale of our growing clearing network allows us to offer significant cost savings to even more clients, brought around by the venue’s integrated liquidity, clearing and technology.”

“We are thrilled that Straits Financial has joined as a clearing member and their participation will greatly enhance the offering available to clients.”

The TCM network allows institutions of all sizes to directly access liquidity on TrueFX from leading market makers without an intermediary. Users also have the option to clear through Jefferies FXPB, the central credit counterparty for TrueFX.

Straits Financial Group Pte. Ltd. parent of Straits Financial Services Pte. Ltd., is a brokerage house headquartered in Singapore that offers a full spectrum of derivatives and OTC products through its subsidiaries. Established in 2011, Straits Financial Group is a full Clearing Member of the CME Group of Exchanges, and has a global presence including the Unites States, China, Dubai and in Indonesia.

TrueFX is an accessible, low cost, spot trading facility delivered by Integral technology, centrally cleared by Jefferies FX Prime Brokerage and supported by a network of TrueFX clearing members, including FXCM Pro, Velocity Trade, Straits Financial, and Sucden. TrueFX combines centralized credit and technology to deliver a lower-cost and operationally efficient environment for counterparties to connect.

Integral is a financial technology company that helps its customers – banks, brokers, and asset managers – outperform their competition in the foreign exchange market through innovative solutions for workflow management and advanced execution. Founded in 1993, Integral maintains development, support, and sales offices in Palo Alto, New York, London, Tokyo, Singapore and Bangalore.