DMALINK, a provider of institutional FX trading services, today said it has onboarded a London based ‘Tier 1 Prime Broker’ to offer its institutional clients access a full suite of pre and post trade services and clearing facilities.
DMALINK said the new broker, whose name can be disclosed in bilateral conversations with LPs and takers, will deliver customized credit intermediation solutions to its platform participants globally. The service agreement will support DMALINK’s relationships with existing PBs and further enhance their hands-on client support.
“The CCP model fits within DMALINK’s business restructuring plans and places us on a fast track to scale the business and introduce added market transparency and competitiveness, as well as long-term returns to our shareholders. This is an important step towards achieving our core objective of providing data-driven global institutional eFX services to existing and future collaborators,” Manu Choudhary, CEO at DMALINK, stated.
DMALINK provides an independent electronic trading venue and liquidity access for professional FX traders with particular focus on emerging currencies. The company has expertise in particular in certain currencies which are often hard to source, including South African Rand, Mexican Peso, Czech Koruna, Polish Zloty, Hungarian Forint, and regular G7 pairs.
Clients across the UK, Europe, North America, and the APAC region further benefit from custom pricing access across majors, minors, and precious metals.
The DMALINK offering stands up with similar venues to help fill the estimated $1.3 trillion credit gap that now exists in the foreign currency market as tighter regulations have reduced the number of prime brokers.
DMALINK is also part of the growing list of LPs that are searchable and contactable on Liquidity Finder, which allows professional investors or trading businesses to make side-by-side comparisons when selecting their liquidity partners.
“Buy-side clients benefit from data insight not currently available across any other major ECN. Market makers and takers can use our technology to demonstrate compliance to local regulators”, added Ashwind Soonarane, Managing Partner at the data-centric ECN.