IS Prime Hong Kong, part of ISAM Capital Markets, announced this Thursday that it has been granted a Type 3 Leveraged Foreign Exchange Trading license by the Securities and Futures Commission (SFC) in Hong Kong.
The license will allow IS Prime Hong Kong to offer leveraged forex trading services to institutional professional investors. Previously, the company offered technology to the institutional space, but not trading.
In particular, the prime of prime broker will now provide institutional professional investors with customized pricing primarily sourced from Tier 1 institutions. This will be offered in conjunction with multi-asset Prime of Prime services and comprehensive front-to-back technology solutions.
In a press release seen by FortuneZ, the company said that it was awarded the license after a rigorous application process. The named Responsible Officers are Will Robbins, Head of Asia and Crystal Ho, Vice President – Sales, North Asia, who are both based in Hong Kong, and Raj Sitlani, Managing Director, ISAM Capital Markets, who is based at the group’s headquarters in London.
IS Prime Hong Kong has secured the license from the SFC shortly after its move this month to larger premises in Times Square. This move, combined with the granting of the license, shows a lot of confidence from the prime of prime broker despite the current turmoil in the country.