The new FX prime brokerage relationship comes to complement the existing one with UBS.
In addition to prime brokerage, eligible corporate clients may set up custodial accounts with Macquarie Bank to support trading via Advanced Markets. This structure provides enhanced security because a client’s funds are held in its name in a custodial account.
Standard Chartered will be providing prime brokerage services to both the newly launched FCA-registered Advanced Markets (UK) Limited London-based operation and the ASIC-regulated subsidiary of the broker.
Both companies operate as independent entities and will have discrete prime brokerage accounts at the bank.
Commenting on the new arrangement with Advanced Markets, the Head of Prime Services Sales Americas, of Standard Chartered, Matthew Walsh, said: “Advanced Markets’ transparent, direct market access agency model, which enables clients to trade on top-tier bank liquidity, fits well within our strategy.”
Advanced Markets committed to a Direct Market Access (DMA/STP) liquidity model at launch in 2006. FX market participants trading via the infrastructure of the brokerage can trade anonymously on prices streamed by leading liquidity providers in a fully transparent, anonymous market structure.
The combination of the firm’s DMA/STP model and robust low latency trading infrastructure has driven participation from leading brokers, fund managers, and other institutions.