Axicorp, FXCM and Velocity Trade provide sponsored access to TrueFX

27 February, 2020 –TrueFX, yesterday announced the launch of the TrueFX Clearing Member network with Axicorp, FXCM Prime and Velocity Trade being the first members to sponsor customer access to the ecosystem.

With this development, clients have the option to either clear through Jefferies FXPB, the central credit counterparty for TrueFX, or open an account with a TrueFX Clearing Member (currently either Axicorp, FXCM Prime or Velocity Trade) to gain direct access to the liquidity on the venue.

According to the press release form Integral, the technology company behind TrueFX, the new TrueFX Clearing Member network allows buyside firms of all sizes to access liquidity from leading market makers without an intermediary. Firms can now enjoy direct market access and leading market makers can provide customized pricing bi-laterally to all customers regardless of direct credit relationships.

       
       Brendan Callen, CEO FXCM

“TrueFX is an exceptional step forward in the integration of connectivity, liquidity, clearing and bridging technology. Bringing these services together in one seamless ecosystem allows for significant costs savings to the end client. Kudos to Integral and Jefferies FXPB for bringing TrueFX to market. FXCM is happy to be an original Clearing Member on the system.” Said Brendan Callan, CEO of FXCM.

“The size and scale of our clearing members allows TrueFX to service many more segments of the buy-side community. Having introduced significant efficiencies and cost reductions to the market through TrueFX, we look forward to bringing those savings to the widest possible user base. The launch of the TrueFX Clearing Member network will accelerate that process.” Said Harpal Sandhu, CEO of Integral and technology provider for TrueFX.

TrueFX allows for unlimited small tickets and includes connectivity, aggregation and MT4 bridging technology free-of-charge. Participants can register at truefx.com.

TrueFX is an accessible, low cost, spot trading facility delivered by Integral technology, cleared by Jefferies FX Prime Brokerage, and supported by the world's largest eFX participants. TrueFX combines centralized credit and technology to deliver a lower-cost and operationally efficient environment for counterparties to connect.

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