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CMC Markets strengthens its offering for institutional clients with the launch of Prime Derivatives and DMA equity CFDs.
CMC Markets has announced the launch of a new institutional offering, Prime Derivatives. It’s a move which expands its institutional offering to include single stock CFD trading.
The launch follows on from last year’s launch of Prime FX which serviced hedge funds, institutional clients and professional traders who are too small for the attentions of traditional traders. The new platform will further cement its position among mini prime brokers allowing them to offer effective service to a group of customers who often go overlooked.
CMC Market say about their institutional account offering:
Our multi-asset trading accounts can be used by most financial firms, including banks and brokers, small and emerging fund companies and other proprietary trading vehicles.
CMC Prime Derivatives includes:
- Advanced, award-winning trading platform
- Smooth online corporate application process
- Professional order types and powerful trading tools
- Access to tier-one liquidity provision
- Automated reporting processes, including concise, efficient delivery of raw end-of-day data
Regulatory changes have helped to make access to prime brokerages services across multiple asset classes has become more challenging in recent years with many smaller brokers struggling to get the access they need. New platforms such as this, therefore, represent an attempt to provide for a growing need among brokers.
Richard Elston, The Head of Institutional at CMC Markets, commented:
“Prime Brokers increasingly want to focus their attention on their very largest customers, meaning market access has become more challenging in recent years for many smaller participants.”
Direct market access (DMA) for stock CFDs
As part of their announcement they state that it would work on a ‘Straight Through Processing’ basis which means any orders clients make will be transferred straight to the market.
This platform will use state of the art management tools, directing trades via smart order routers to a wider range of venues including dark (non-displayed) liquidity, primary exchanges and MTFs among others.
Clients will be able to trade in the opening and closing auctions of the US pre and post market and includes features such as advanced charting and streaming news services. The next generation platform also provides a comprehensive suite of back-office reporting tools.
Together with Prime FX, CMC Markets is now offering a comprehensive multi-asset solution from one place allowing counterparties to trade CFDs either directly through the existing CMC Markets platform or via FX API.
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Tom Cropper is a financial journalist with work which has appeared in titles such as the Guardian, Euromoney and many others.