Integral Receives MTF Approval
Integral, the financial technology partner trusted by leading banks, brokers, and investment managers to design, deliver and grow their FX businesses, announced today that it has received approval from the United Kingdom’s Financial Conduct Authority to operate a multilateral trading facility.
“We are excited that the FCA has approved Integral MTF,” said Harpal Sandhu, Integral CEO. “We have worked extensively with our customers to deliver an MTF that lessens the impact of MiFID II on their businesses and takes the risk and confusion out of meeting reporting and best execution requirements.”
Integral MTF leverages the award-winning technology that supports Integral Open Currency Exchange (OCX) and includes all the features and services necessary for clients to conduct MiFID II compliant trading. Integral’s customers are engaged in the full lifecycle of FX, so they need to maintain MiFID II compliance when they execute in the market. Integral MTF will provide enhanced surveillance practices, monitoring procedures, and execution analysis for transparent and compliant trading of FX Forwards, Swaps, and NDFs.
Trading on Integral MTF offers all the advantages of OCX like richest liquidity, fastest engine, lowest price as well as a free screen trading for takers.
This flexible, MiFID II compliant trading venue seamlessly integrates with Integral’s workflow products – BankFX, InvestorFX, MarginFX – so customers can design and deliver complete solutions tailored to their business. Integral will deliver its entire platform with services necessary to meet MiFID II requirements including assistance with pre-trade and post-trade transparency, surveillance, TCA, reporting, and record keeping.
The focus is bringing together market participants to interact seamlessly in a global order book.
Citigroup and Credit Suisse veteran brings deep experience in electronic trading and market structure.
There has been a substantial increase in demand for Asia currency e-FX in the past five years.
There have been a number of technical enhancements since the acquisition of ITG last year.
Adopting open innovation principles can foster greater interaction and connectivity, Celent says.