Top Hedge Fund News, Member Posts, Hedge Fund Daily Indices and more!

3yrs ago Hedge Fund hedgeweek Views: 378

7th Apr 2020 - 10:45am

TrueFX completes first trades on platform

Submitted 07/04/2020 - 10:45am

TrueFX, a purpose-built OTC market designed for the buy-side, has executed the first set of disclosed trades between counterparties on its network. 

The trades were executed by FXCM, AxiCorp, Velocity Trade and leading electronic market makers.

TrueFX has been designed to provide all market participants with direct access to FX liquidity through a single point of credit intermediation and technology integration. Delivered in a cloud environment, its ultra-low latency network can be easily connected to and offers uninterrupted access to market participants around the world. TrueFX operates both disclosed and non-disclosed trading and supports a wide range of execution methods, including full amount and VWAP.

Daniel Beale, Head of Institutional Sales and Trading at AxiCorp, says: “AxiCorp is extremely pleased to have participated in the first live trades on TrueFX. The transparent and highly efficient model employed by the platform is an exciting development for the markets and we look forward to continuing our participation over the coming months.”

Richard Holman, Head of Prime Brokerage at Velocity Trade, says: “Velocity Trade is proud to demonstrate its commitment to TrueFX by executing the first trades on the platform. TrueFX represents an exciting opportunity for many FX market participants through the increased accessibility and transparency it brings.” 
 
Brendan Callan, CEO of Forex Capital Markets (FXCM), says: "TrueFX is an exciting and innovative proposition that allows more market participants to connect and trade with the widest range of counterparties. By eliminating credit as a barrier to market, many can access core FX liquidity far more efficiently than ever before.”

“TrueFX is open to the entire FX community and customers have access to any form of liquidity of their choosing,” says Harpal Sandhu, CEO of Integral and technology provider for TrueFX. “Clients can take full advantage of a centralised credit and technology offering, which delivers high cost savings and opens up the market to the widest possible user base. We are thrilled by the extremely positive reaction we have received from the market and are now responding to the significant demand from customers looking to TrueFX for efficient and convenient trading.”
 

Tags Trading & Execution

Today's Hedge Fund Headlines:

Log In for More
Access Over 250K+ Industry Headlines, Posts and Updates
Not a member yet?

Join AlphaMaven

The Premier Alternative Investment
Research and Due Diligence Platform for Investors

Free Membership for Qualified Investors and Industry Participants
  • Easily Customize Content to Match Your Investment Preferences
  • Breaking News 24/7/365
  • Daily Newsletter & Indices
  • Alternative Investment Listings & LeaderBoards
  • Industry Research, Due Diligence, Videos, Webinars, Events, Press Releases, Market Commentary, Newsletters, Fact Sheets, Presentations, Investment Mandates, Video PitchBooks & More!
  • Company Directory
  • Contact Directory
  • Member Posts & Publications
  • Alpha University Video Series to Expand Investor Knowledge
  • AUM Accelerator Program (designed for investment managers)
  • Over 450K+ Industry Headlines, Posts and Updates
ALL ALPHAMAVEN CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. CONTENT POSTED BY MEMBERS DOES NOT NECESSARILY REFLECT THE OPINION OR BELIEFS OF ALPHAMAVEN AND HAS NOT ALWAYS BEEN INDEPENDENTLY VERIFIED BY ALPHAMAVEN. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS IS NOT A SOLICITATION FOR INVESTMENT. THE MATERIAL PROVIDED HEREIN IS FOR INFORMATIONAL PURPOSES ONLY. IT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY INTERESTS OF ANY FUND OR ANY OTHER SECURITIES. ANY SUCH OFFERINGS CAN BE MADE ONLY IN ACCORDANCE WITH THE TERMS AND CONDITIONS SET FORTH IN THE INVESTMENT'S PRIVATE PLACEMENT MEMORANDUM. PRIOR TO INVESTING, INVESTORS ARE STRONGLY URGED TO REVIEW CAREFULLY THE PRIVATE PLACEMENT MEMORANDUM (INCLUDING THE RISK FACTORS DESCRIBED THEREIN), THE LIMITED PARTNERSHIP AGREEMENT AND THE SUBSCRIPTION DOCUMENTS, TO ASK SUCH QUESTIONS OF THE INVESTMENT MANAGER AS THEY DEEM APPROPRIATE, AND TO DISCUSS ANY PROSPECTIVE INVESTMENT IN THE FUND WITH THEIR LEGAL AND TAX ADVISERS IN ORDER TO MAKE AN INDEPENDENT DETERMINATION OF THE SUITABILITY AND CONSEQUENCES OF AN INVESTMENT.