New York (HedgeCo.net) – The asset management division of Merchant Capital, a subsidiary of Merchant House Group PLC, has today announced that it will launch a FX proprietary trading package this month, Merchant Capital FX, in association with Hotspot FX, the institutional currency trading electronic communication network (ECN).
Merchant Capital FX will provide proprietary trading teams with a solution that differs from those offered by fund managers and trading arcades currently in the market at a particularly opportune time for FX traders, who are facing an uncertain future. Merchant Capital FX offers independence with institutional-level backing.
Merchant Capital will build FX trading businesses for team principals looking to establish independent firms where they can maintain complete control. It is a solution for high-profile proprietary trading teams looking for certainty in the face of unpredictable financial regulatory developments, particularly within the European Union.
Hotspot FX LLC, a subsidiary of Knight Capital Group, Inc., operates the first foreign exchange ECN for institutions. Hotspot FX allows a diverse and expanding client base access to deep liquidity in more than 50 currency pairs plus gold and silver with speed, competitive pricing, full depth-of-book transparency and complete anonymity.
Merchant Capital is already recognised in the asset management industry as a leading independent provider of a UCITS platform for absolute return managers from around the world. Merchant Capital Ltd, which is authorised by the FSA, is the business division of Merchant House Group Plc, a new style of corporate banking and financial services group.
George Cadbury, Director at Merchant Capital, said: “With Merchant Capital FX, we can provide experienced FX trading teams with the proper regulatory cover and all necessary trading lines. If traders are successful we can also offer additional capital-raising sources via a Merchant Capital fund offering. Merchant Capital FX offers a unique solution to teams that want to run their own business with the advantages of institutional support.”
John Miesner, Global Head of Sales at Hotspot FX, said: “Hotspot is pleased to make the features and benefits of our FX ECN available to Merchant Capital’s European client base. Sophisticated traders appreciate the anonymity, liquidity and technology-driven speed and performance Hotspot can provide. Additionally, Hotspot offers historical and real-time market data, which is extremely important for proprietary trading teams looking to model and backtest their strategies.”
Editing by Alex Akesson
