California-based Fortex, Inc. which operates its Electronic Communication Network (ECN) platform specializing in foreign exchange trading and related asset classes, today announced the launch of xForce Prime of Prime (PoP) Suite, according to an official company press release, after the company earlier this year.
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For firms looking to become FX liquidity providers, the new xForce PoP solution is aimed at allowing banks and brokers to distribute their price streams directly into their partners’ systems, and helps brokers onboard their own partners by offering a white-labeled omnibus account structure along with using an aggregated corporate account via the Fortex5 institutional front-end product that is part of the new suite.
The solution was also described as enabling firms to offer a Financial Information eXchange (FIX) API connection and allowing related parties to manage the process via middle and back office portals, so they can have a clear view of their key reporting metrics and financials that are important for decision making.
The suite of products under the xForce line include a back office, quote maker, dealing manager, the API, and the Fortex 5 front-end. A diagram outlining the xForce Prime of Prime suite which was included in the official press release today can be seen below.
According to the update, one of the features of the new xForce Prime of Prime suite is the ability to provide firms with real-time insight into their overall exposure across all of their accounts and compile real-time P&L reports for their A book, B book and coverage books combined.
Commenting in the company’s press release, that the system didn’t require expensive hardware installation or IT resources, among other potential benefits, and added: “xForce Prime of Prime allows FX Brokers to manage their business from anywhere, expand partnership and liquidity distribution networks and to provide value and knowledge in ways that no other system can.”
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