The agency-model foreign exchange (FX) broker FxPro Group has announced its acquisition of Quotix, the provider of liquidity aggregation and distribution solutions to FX buy-side and sell-side firms, in order to open up to institutional clients and enhances its FX services.
FxPro will now be able to offer spot FX aggregation and enhanced liquidity while providing prime brokerage services to institutional clients. The acquisition will also allow the online FX broker to improve its trade execution and speed, as well as pricing.
"As we continue to grow exponentially across the globe, liquidity is critical to ensuring we can provide the best spot FX prices for our clients," says Charalambos Psimolophitis, CEO at FxPro. "This new acquisition allows FxPro to diversify and opens more doors as we start to offer prime-of-prime, aggregation and liquidity services. Above all it will mean improved pricing for clients. We currently have twelve liquidity providers and are aiming to increase this number. By acquiring Quotix we will also be in a stronger position to work more closely with our existing liquidity providers and bring on new ones."
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