Pronet Analytics.com signs broker agreement with Forex Capital
12 January 2004 | 1461 views | 0
Pronet Analytics.com Limited (PAL), an operating subsidiary of The Market Age plc, and Forex Capital Markets LLC (FXCM), today announced an agreement to provide their services to each other's clients.
With monthly FX trading volumes exceeding $25bn, FXCM is one of the world’s leading firms in servicing the retail FX market. Under the agreement, PAL will provide either its top-rated research service directly to clients, or will provide trading instructions to FXCM to be applied to FXCM's customer accounts.
PAL will be remunerated by way of a transaction fee, and PAL will provide access to FXCM via its website. Commenting on the agreement, Group CEO Shane Smith said, "This is a new initiative for us and is clearly unproven. However if FXCM’s client's take to the idea, given the monthly value of transactions that FXCM process it is clear that even a small charge per transaction can yield substantial return, and we are pleased to be working with FXCM on this venture."
FXCM Chief Marketing Officer, Marc Prosser: "The relationship between FXCM and PAL enables traders to take advantage of PAL research without having to personally execute trades. Unless you were a full-time trader, a trader would not be able to fully take advantage of the vast majority of PAL's information flow and trading opportunities. Because of this unique arrangement, traders can now have FXCM automatically handle the execution of PAL signals. We are pleased to be able to offer this highly regarded source of trading intelligence to our clients."