TrueFX, a purpose-built OTC market designed for the buy-side, today announced that Straits Financial Services Pte Ltd (“Straits Financial”), a Capital Markets Services License company based in Singapore, has joined TrueFX as a clearing member to enhance their clients’ access to forex liquidity. 

As a TrueFX Clearing Member (TCM), Straits Financial will provide FX brokers and buy-side firms of all sizes with direct market access to liquidity on TrueFX. Users benefit from access to all market makers on the venue, who in turn can provide them with customized pricing. 

Raymond Mok, Straits Financial Global Head of FX said: “As a leading financial institution in Asia, we want to provide our institutional clients with fair, transparent, and efficient access to the market. TrueFX aligns with these values, and we are pleased to join the network as a clearing member and demonstrate our commitment to this exciting initiative."

“The size and scale of our growing clearing network allows us to offer significant cost savings to even more clients, brought around by the venue’s integrated liquidity, clearing and technology”, said Harpal Sandhu, CEO of Integral and technology provider for TrueFX. “We are thrilled that Straits Financial has joined as a clearing member and their participation will greatly enhance the offering available to clients.”

The TCM network allows institutions of all sizes to directly access liquidity on TrueFX from leading market makers without an intermediary. Users also have the option to clear through Jefferies FXPB, the central credit counterparty for TrueFX. 

Launched last year, TrueFX has already achieved Best New Product in the 2020 Markets Choice Awards in recognition of the significant cost savings and operational efficiencies delivered by the venue. Market participants can find out more and register interest at truefx.com.