just now
September 9, 2020 - DMALINK®, one of the last exchange-independent ECNs offering access to institutional Emerging Markets FX pricing has announced exclusively to LiquidityFinder today, that an award-winning London based Tier-1 Prime Broker will provide clearing facilities to its platform participants globally.
DMALINK’s decision to add the PB enables its users to leverage a wide-reaching ecosystem to connect to a variety of participants throughout the EU, Americas and APAC regions to access deep currency and bullion pricing. DMALINK operates platforms out of data centres in New York and London, with plans to launch in Asia very soon.
Michael Siwek, Founding Partner and Global Head of Sales at DMALINK, said: "The improved clearing structure is a crucial element in further scaling and maintaining a superior API and GUI execution experience for our counterparties under the new model. Our participants can transact CLS and non-CLS currencies. Users can access bank and non-bank pricing, regional liquidity, specialised pricing pools, coupled with in-depth reporting to cater to a high level of competitiveness in today's FX landscape.”
Michael Siwek, Global Head of Sales, DMALINK
Manu Choudhary, CEO at DMALINK, stated: "The CCP (Central Counter Party) 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."
“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 DMALINK.
DMALINK is one of the last exchange-independent ECNs offering access to institutional Emerging Markets FX pricing, and today's announcement is a significant and important milestone for the firm. The new Prime Broker CCP should allow DMALINK to unblock its onboarding queue, scale-up and bring on its targeted institutional clients in rapid succession.
It is understood that DMALINK recently achieved external investment both in a private capacity and from the British Business Bank under its Future Fund. The fund raising, pre Series A, was conducted to allow the company to hire talent and to invest in technology IP to satisfy the company's exciting growth plans over the coming months. It is known that the company has made some targeted hirings for various positions in London to assist in its expected growth, with the names and positions to be announced very soon.
DMALINK, a platform which has a differentiated business model as it does not charge market makers, is a data-centric ECN for professional Foreign Exchange traders streaming anonymous and bilateral, proactively tailored and sustainable pricing with particular focus on Emerging Markets, Scandie crosses and CE3, serving Banks, Funds, Corporates, and Proprietary Trading Firms who have a particular demand for sustainable liquidity access across non-G-7 pairs. It is understood that precious metals liquidity will also be available in the coming weeks.
