The Financial Commission announced this Wednesday that it has partnered with Advanced Markets in order to allow it to provide its approved broker members access to Liquidity , credit and technology solutions.
Advanced Markets is a wholesale provider of direct market access (DMA) liquidity, credit and technology solutions to institutional clients, such as brokers, banks and hedge funds. The Financial Commission, on the other hand, is an independent external dispute resolution (EDR) organisation for the foreign exchange (Forex ) industry.
Under the agreement, in addition to liquidity, the Financial Commission will also give its members the opportunity to earn account credits on brokerage costs. This is part of its “Value-Added” services for members.
“Through our partnership, approved broker member of the Financial Commission can expect to receive world-class wholesale liquidity, technology and credit solutions from a trusted and proven leader in the FX industry,” the Financial Commission said in its statement.
Financial Commission launches Value-Added services
Through the Value-Added services, members of the EDR will be able to receive monthly account credits of $2 per million on brokerage costs, the company explained in its statement.
“The streamlined, flexible program setup enables FC members to tailor optimal liquidity and credit structures for their offerings, as well as set up new solutions rapidly to meet demand while enjoying special discounts to keep their transaction costs low,” the resolution organisation said today.
The Financial Commission helps providers brokerages and their clients with a third party mediation platform that helps to resolve issues when the separate parties are unable to come to an agreement themselves.
As Finance Magnates reported, the EDR received a record of 1,012 complaints in fiscal 2019, even as the amount it recovered for broker member customers fell slightly from a year earlier.
The self-regulator made progress across some of its key business drivers. Specifically, the number of new complaints rose seven percent year-over-year as a record $7.4 million sought by traders in 2019, up from $3,184,932 in 2018.
