TrueFX, a purpose-built OTC market designed for the buyside, has launched the TrueFX Clearing Member network. Axicorp, FXCM and Velocity Trade are partnering with TrueFX to support customer access to the ecosystem. With this development, clients will have the option to clear through Jefferies FXPB, the central credit counterparty for TrueFX, or can open an account with a TrueFX Clearing Member to directly access liquidity on the venue. The new TrueFX Clearing Member network allows buyside firms of all sizes to access liquidity from leading market makers without an intermediary.
“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.