Integral and Jefferies launch OTC FX venue

Designed for the buyside community, including retail brokers, macro hedge funds, prime of primes and also regional banks, the centrally cleared venue provides direct access to FX liquidity through a single point of credit intermediation and technology integration. Trading, technology and credit costs are significantly reduced by combining the solutions into a single convenient offering.

Open to the entire OTC community, TrueFX efficiently delivers access to the institutional FX market for a new and diverse client base. Participants access other TrueFX community members via a dedicated Integral connectivity network and either a direct credit relationship with Jefferies FXPB or a relationship with a client of Jefferies FXPB.

Brandon Mulvihill, Global Head of FX Prime Brokerage at Jefferies said, “The flow of credit is the lifeblood of the FX market, but market inefficiencies have stalled accessible and affordable credit for many market participants. We are excited to play a pivotal role in addressing this challenge via TrueFX and to collaborate with an industry-leading team at Integral to make this happen.”

Harpal Sandhu, Founder and CEO of Integral: “The market has a huge desire to access additional parties with which to trade. We are working on making available all leading sources of liquidity, so clients can trade with everyone through a single connection. TrueFX is built on Integral’s ECN network, which is recognized for its ultra-low latency, high-performance and superior integration. This means trading members of TrueFX can find a streamlined, cost efficient meeting place with seamless onboarding.”