Straits Financial Joins TrueFX Clearing Member Network
PALO ALTO (June 16, 2021) – TrueFX, a purpose-built OTC market designed for the buy-side, today announced that Straits Financial Services Pte Ltd (“Straits Financial”), a Capital Markets Services License company based in Singapore, has joined TrueFX as a clearing member to enhance their clients’ access to forex liquidity.
As a TrueFX Clearing Member (TCM), Straits Financial will provide FX brokers and buy-side firms of all sizes with direct market access to liquidity on TrueFX. Users benefit from access to all market makers on the venue, who in turn can provide them with customized pricing.
Raymond Mok, Straits Financial Global Head of FX said, “As a leading financial institution in Asia, we want to provide our institutional clients with fair, transparent, and efficient
access to the market. TrueFX aligns with these values, and we are pleased to join the network as a clearing member and demonstrate our commitment to this exciting initiative.”
“The size and scale of our growing clearing network allows us to offer significant cost savings to even more clients, brought around by the venue’s integrated liquidity, clearing and technology”, said Harpal Sandhu, CEO of Integral and technology provider for TrueFX. “We are thrilled that Straits Financial has joined as a clearing member and their participation will greatly enhance the offering available to clients.”
The TCM network allows institutions of all sizes to directly access liquidity on TrueFX from leading market makers without an intermediary. Users also have the option to clear through Jefferies FXPB, the central credit counterparty for TrueFX.
Launched last year, TrueFX has already achieved Best New Product in the 2020 Markets Choice Awards in recognition of the significant cost savings and operational efficiencies delivered by the venue. Market participants can find out more and register interest at truefx.com.
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About Straits Financial Group Pte. Ltd.
Straits Financial Group Pte. Ltd. parent of Straits Financial Services Pte. Ltd., is a brokerage house headquartered in Singapore that offers a full spectrum of derivatives and OTC products through its subsidiaries. Established in 2011, Straits Financial Group is a full Clearing Member of the CME Group of Exchanges, and has a global presence including the Unites States, China, Dubai and in Indonesia. At Straits Financial, we distinguish ourselves by providing bespoke products and services to fulfil the uniqueness of every trader. We take pride in maintaining our stable and long standing relationship with tier 1 banks as well as leading data providers and vendors to bring forth the best service and technology
For media information about Straits Financial Group, contact: sgsales@straitsfinancial.com
About TrueFX
TrueFX is an accessible, low cost, spot trading facility delivered by Integral technology, centrally cleared by Jefferies FX Prime Brokerage and supported by a network of TrueFX clearing members, including Sucden Financial, FXCM, Axicorp and Velocity Trade. TrueFX combines centralized credit and technology to deliver a lower-cost and operationally efficient environment for counterparties to connect.
About Integral
Integral is a financial technology company that helps its customers — banks, brokers, and asset managers — outperform their competition in the foreign exchange market through innovative solutions for workflow management and advanced execution. This powerful cloud-based platform is the industry’s only answer for FX institutions that want to design and deliver complete solutions tailored to their businesses. Integral’s modern approach of addressing the entire FX lifecycle with an intelligent platform allows its customers to achieve the lowest transaction costs, greatest operational efficiency, and highest yield. Founded in 1993, Integral maintains development, support, and sales offices in Palo Alto, New York, London, Tokyo, Singapore and Bangalore.
For media inquiries on Integral or TrueFX, please contact: integral@aspectusgroup.com
©2021 Integral Development Corp. All rights reserved. Integral technology is protected under U.S. Patent Nos. 6,347,307; 7,882,011; 8,417,622; 8,862,507, 9,412,134; 9,836,789, and patent pending applications and related intellectual property. Additional information is available at https://www.integral.com