Retail broker CFI announced on Monday that it is going to be using FXCubic as a technology provider.
“We are proud to partner with CFI, providing our Liquidity aggregation and risk management solutions to a significant broker in the industry," said FXCubic founder and chief executive officer Ege Kozan.
"The vision of FXCubic is to become a market leader in proving financial technology solutions to retail and institutional brokers. Adding a reputable broker like CFI to our ever growing portfolio of clients is a step forward towards this vision.”
Based in London, FXCubic provides software to brokers for bridging, price aggregation, synthetic instruments creation, and risk management automation.
In a statement, CFI said that its partnership with the firm would boost its service offering to financial institutions and professional investors.
“As part of our continuous development we are pleased to add FXCubic to our offering,” said Nidal Abdel Hadi, deputy CEO and global head of business development at CFI.
"FXCubic have built a solid and reliable solution that will help us add new connectivity channels to our clients and different platforms."
CFI - going institutional
The deal with FXCubic is the latest in a number of steps that CFI has taken over the past twelve months to cater to a more high-end clientele.
In September of last year, the Lebanese broker launched an institutional service for professional clients via its European-regulated entity in Cyprus.
That was followed in December with the news that the firm had acquired a regulatory license in Dubai. Hadi told Finance Magnates at the time that the firm was planning on targeting hedge funds, banks, brokers, and high net-worth individuals in the Middle East.
