CHARLOTTE, NC—March 31, 2014—Advanced Markets, Ltd, a provider of wholesale and institutional liquidity, technology and credit solutions, today launched DMAflex, a new liquidity offering for Currenex customers using prime broker credit. The new product combines Advanced Markets’ signature direct market access (DMA) low latency, multibank liquidity with Currenex’s ECN functionality.
Through this solution, Currenex buy-side users can trade on Advanced Markets’ DMA bank liquidity as well as prices provided by select non-bank market makers. The liquidity pool will not link to external ECNs. In addition, users can bid and offer to seek price improvement and generate client-to-client matches.
“DMAflex will extend our direct market access FX liquidity model to institutional traders, who use DMA in equities and other asset classes, as well as to wholesale brokers that white label the Currenex platform,” said Anthony Brocco, chairman, Advanced Markets. “We expect DMAflex will benefit institutional traders seeking consistent interbank liquidity in an anonymous, completely transparent, low latency environment.”
Advanced Markets’ bank liquidity providers include Bank of America, Barclays, BNP Paribas, Citi, Deutsche Bank, JP Morgan, Macquarie Bank, Morgan Stanley, Nomura and UBS.
DMAflex will be limited initially to clients using prime brokerage credit. Advanced Markets provides prime brokerage services through Citi and Deutsche Bank.