In anticipation of next week’s iFX EXPO in Macau, UK regulated broker, Tradenext has announced the launch of Tradenext Prime, the company’s new B2B unit, which will officially go live on January 22nd. The division will be offering prime brokerage services for retail aggregators, banks, brokers, hedge funds, and large-sized active individual traders. According to the firm, “The service will enhance institutional services for banks and brokers in emerging markets including India, Thailand and Mexico.”
While Tradenext had previously been offering institutional services such as white label arrangements for brokers and Liquidity to asset managers, a company representative explained to Forex Magnates that the launch of Prime consolidates all of their B2B operations under one division. In addition, the representative added that the broker will be now offering API connectivity of their aggregated liquidity to customers as a newly launched product of Tradenext Prime.
Alex Chehade, Senior Trader at Tradenext Limited
In their public statement, Alex Chehade, Senior Trader at Tradenext Limited stated that, “Tradenext Prime complements Tradenext’s multi-asset, multi-platform philosophy to provide traders a complete suite of solutions that fit their ever changing needs. We have collaborated with Tier 1 providers of liquidity solutions to offer a high-end product to users.”
Overall, the launch of Tradenext Prime provides another example of firms widening their product range to compete in multiple segments of the FX industry. Further examples of the launch of technology and marketing units are to service partners as well as aggregators whose primary business is facing institutional customers, now creating liquidity products tailored towards the needs of retail brokers.
