*PrimeXM Asia GM, Tommy Wong, recently spoke with Figure Finance about why PrimeXM’s solutions are considered to be the leading in the global finance industry and our plans for China.
Q: There are many technology providers creating technology for the fx industry. How does PrimeXM distinguish itself from the competition?
A: Well, first of all, we have our own dedicated infrastructure which spreads across strategic locations, in Equinix data centres in London (LD4), New York (NY4) and Tokyo (TY3). We have chosen these locations because this is where most of the financial institutions are also hosted which improves connectivity and facilitates low latency.
What’s more, the XCore, our cutting-edge order management service, connects directly via cross-connects to 200 liquidity sources, including Tier1 banks and liquidity providers which further facilitates fast connectivity.
In addition, we have also established leased lines between our data centers, while our infrastructure is also highly flexible and redundant. As our core technology is built in-house, we provide a highly flexible service to our clients, while our in-house experts also offer proactive business and technical support.
What is perhaps the most important distinguishing feature of PrimeXM is that we are a pure technology provider, meaning that we are dedicated to staying neutral and transparent. As such our clients know that what we offer is cutting-edge technology that can truly help them optimise their trading environment which is also why we are highly successful with client retention.
Q: PrimeXM’s clients are mostly big companies, like international banks and Prime Brokers. Would you say that PrimeXM’s technology is better suited to bigger clients, or can smaller brokers or startups also benefit from PrimeXM’s solutions?
A: While it is true that we have many large institutional clients, our technology is highly flexible and can be adapted to meet the needs of each and every one of our clients. As we do not use any third-party technologies and our infrastructure is strictly built in house, we are able to scale up or down to meet our clients’ demands. We simply sit down with our clients and ensure that the solution we draft up is tailored to their exact needs. These makes our solutions very affordable and ensures that the end-result rises up to our clients’ expectations.
Q: PrimeXM has had a physical presence in China for the past two years and it looks like the office here is a huge success. What are PrimeXM’s future plans in the region?
A: Before we decided to set up the office in Shanghai, PrimeXM had a very successful journey in Europe, Australia and even the Middle East. However, as our client-base in China was growing, we determined that we would be better able to cater to their needs with a physical presence closer to them. Of course, we had our challenges when we first opened the office, but we were able to adapt very quickly and I feel that our presence in China has been a success. Of course, we will continue to find ways to grow and improve our offering especially since we are able to build on our experience with the Chinese market.
Our team here is very talented and they are dedicated to our clients so I am confident that our growth will align with the growth of our clients which is also our goal.