TrueFX adds Sucden to its Clearing Member Network
Palo Alto, CA based TrueFX has announced that Sucden Financial, a leading global multi-asset execution, clearing and liquidity provider, has joined as a TrueFX Clearing Member (TCM) to support their clients access liquidity on the network.
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, Axicorp and Velocity Trade. TrueFX combines centralized credit and technology to deliver a lower-cost and operationally efficient environment for counterparties to connect.
Launched earlier this year, the TCM network allows buy-side firms of all sizes to directly access liquidity on TrueFX from leading market makers without an intermediary. Clients of TrueFX have the option to clear through Jefferies FXPB, the central credit counterparty for TrueFX, or open an account with a TCM and gain access.
“We are pleased to be joining the TrueFX network as a clearing member and offer our clients access to this service with valuable connectivity to the marketplace. TrueFX is an exciting development for the FX market and we are proud to demonstrate our commitment to this initiative.” Said Wayne Roworth, Co-Head of eFX at Sucden Financial.
“Having Sucden Financial join the TrueFX Clearing Member network greatly enhances the offering available to clients and allows TrueFX to service many more segments of the buy-side community,” said Harpal Sandhu, CEO of Integral and technology provider for TrueFX. “The addition of Sucden Financial to the network is further testament to the network’s compelling value proposition and we are thrilled to have them on board as a clearing member.
”TrueFX allows for unlimited small tickets and includes connectivity, aggregation and MT4/MT5 bridging technology free-of-charge. Participants can find out more and register interest at truefx.com.