Spotex, a developer of foreign exchange (FX) technology systems and ECN operator, have announced earlier today that they have launched a brand new multilevel credit and margin management module named Periscope. Periscope will enable prime brokers and prime-of-prime brokers (PoPs) to extend credit and/or margin to multiple levels of downstream, sub brokers.
Periscope is a specially built risk engine within Spotex’s full white-label broker technology system and institutional ECN. It aggregates and monitors both credit and margin exposures from a top-level broker (typically a PoP one) down as many as four levels of sub brokers (five levels total).
John Miesner, Senior Managing Director, Spotex, commented on the news:
Periscope opens a range of new opportunities for prime brokers, prime of primes and retail brokers, who previously were unable to accommodate clients due to technology restrictions. Clients now have a broader range of firms they can execute through to trade on Spotex’s institutional ECN.
Sub brokers will now be able to provide their clients with direct access to Spotex’s institutional low latency ECN where they can trade on a transparent central limit order book using active and passive order types powered by live market data.
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Spotex releases a multilevel credit-margin manager module was first posted on October 21, 2019 at 11:34 am.