What Does It Take to be the Best Prime of Prime in the FX Space?

Voting for Finance Magnates' London Summit Awards started yesterday, and so far the prime of prime category has drawn great deal of interest.

In recent years we have seen the major global banks, the traditional players in the Prime brokerage space, try to severely limit their exposure or outright leave the market – a phenomenon that was accelerated following the Swiss National Bank (SNB) Crisis that shock the structure of the industry. That led in turn to the proliferation of an adjacent market niche, Prime of Prime.

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Recently, new players have entered this space – mainly established brokerages that sought to capitalize on their available Liquidity , established connections and brand power in the FX industry and move up the value chain.

As CEOs of both retail brokers and service providers still view liquidity concerns as the biggest challenge for the industry, It is clear that the PoP space is getting traction.

So we have decided to open up the floor for discussion, and allow our readers to chip in. Namely, we'd be happy to hear what does it take to be a good provider of Prime of Prime services in your eyes. Is a solid and broad capital base a mandatory requirement or are lower costs justify going with a smaller player? What PoPs have to offer to retail brokers as opposed to ECNs?

As delegates of the Finance Magnates London Summit are still casting their votes, you are welcome to have your say in the comments below.