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Interview: PrimeXM’s Matthew Best speaks to FinanceFeeds about liquidity management

September 21, 2017|

*The interview was originally published in FinanceFeeds.

Matthew Best, Head of Client Services at PrimeXM London, talks with FinanceFeeds about PrimeXM’s cutting-edge technology solutions and the company’s vision for growth.

Today, in Limassol, Cyprus, which has now proven itself as more than a center for retail FX brokerages, but also as the world’s major off-the-shelf trading platform development center.

Cyprus has developed its fully comprehensive retail FX service provision to such a refined degree that it now hosts full end to end solutions for brokerages, an example being this summer’s launch of a very important milestone, that being the integration of PrimeXM‘s XCore liquidity management system into MetaTrader 5.

Indeed, the entire ecosystem that powers the electronic trading industry from within Cyprus is now becoming a global linchpin, as PrimeXM opened its office earlier this month in London, placing its liquidity management solution in the heartlands of the world’s financial markets epicenter, and marking it out as a financial technology firm that now nestles among the institutional FX giants which handle the lion’s share of the world’s Tier 1 FX order flow.

Today, FinanceFeeds met with Matthew Best, Head of Client Services at PrimeXM’s London operations in order to gain greater perspective on the company’s expansion into such an important region.

Expanding into London puts PrimeXM in the heartlands of the institutional sector, exactly where the liquidity that is conducted via the firm’s order execution system comes from. What is PrimeXM’s aspiration in terms of positioning itself as a major vendor alongside London’s liquidity providers, and how can liquidity relationships be furthered?

The truth is that we have always been positioned close to all the major liquidity providers as we have chosen premium FX data centers as our infrastructure hubs. We host clients’ servers and their XCore in Equinix LD4, NY4 and TY3 in the same suites where all the major liquidity providers are hosted, as our goal has always been to facilitate connectivity and achieve ultra-low latency.

This proximity to liquidity providers ensures that there’s no to minimum delays and slippage which allows our clients to create an optimal trading experience for their clients.

Setting up an office in London will simply bring our service team closer to our rapidly expanding client base which will lead to an even better quality of service, while we hope to also use this office as a base for future growth into the region.

The XCore solution is widely recognized among retail brokerages wishing to have control over their order and execution management. By operating this from London, is there likely to be further refinement of its operational capabilities as prime of prime brokerages based in the Square Mile foster greater commercial partnerships with PrimeXM?

We are always interested in refining the XCore and in fact, what makes it so powerful is that it is extremely flexible. The XCore is constantly evolving and growing and has been for many years now.

Our in-house experts work tirelessly to ensure that the XCore remains cutting-edge and we are always very creative with what we want to get the XCore to do. Of course, we have had clients request the addition of new components and we have been more than happy to comply with their requests so we would definitely be open to listening to what any new and existing clients would want the XCore to do for them.

On the retail side, which type of companies will PrimeXM target from its London office?

We will continue to support our existing clients based in the region with key growth areas coming in the form of more institutional players.

Britain’s electronic trading business is very London-centric, and its client base is largely a domestic audience that does not use the MetaTrader platform, instead CFDs traded on proprietary platforms being very dominant. Will PrimeXM look to develop more platform-neutral liquidity management and connectivity solutions in future in order to appeal to large London based CFD and spread betting companies with proprietary platforms?

All of our offering extends beyond the MetaTrader platform and we already accommodate a number of clients with proprietary trading platforms. The XCore can be connected to any platform our clients wish and aggregate liquidity from any of their chosen liquidity sources.