MarketPrizm, a leading provider of market data and trading infrastructure services, yesterday announced it will provide Marex Spectron, a broker of physical and financial products in the commodities sector, with a Direct Market Access infrastructure solution to support client on-boarding for Marex Spectron's Exchange Traded Derivatives business.
The DMA solution will initially cover The London Metal Exchange, CME Group and IntercontinentalExchange with further expansion in Europe and Asia planned for later this year.
MarketPrizm's Broker DMA solution is designed to provide an easy and flexible way for clients to connect, collocate and trade in multiple markets. MarketPrizm provides a complete trading infrastructure, hosting, market data and order routing services as a service including pre-trade risk analysis via ULLink.
Following implementation, Marex Spectron will be able to offer an enhanced service to customers in Asia and the Middle East who want to trade European and US commodities. Marex Specton is one of the first commodities brokers to provide this complete service to clients in a low latency environment across key markets.
Today's announcement confirms the extension of asset classes covered by MarketPrizm to include the commodities market. This follows MarketPrizm's expansion into Asia with services in Japan, Australia and Singapore.
Tanuja Randery, Chief Executive Officer, MarketPrizm, said: "We have been able to utilise our experience of building effective and flexible equity market infrastructures and apply this knowledge to the commodities sector. The technology that has been used to cut the time taken to execute a trade can now be used to deliver a low latency solution to Marex Spectron."