FCA-regulated broker Britannia Global Markets Limited (formerly Destek Markets) has expanded its primary brokerage service to include CFD trading on currencies, indices and commodities.
The expanded offering will be supported by financial services technology platforms including Lucera, PrimeXM, MetaQuotes and MaxxTrader. It comes just a year after Britannia launched its own prime brokerage unit in a bid to capitalize on the decline of traditional banks’ dominance in the multi-billion dollar market.
Britannia said its alliance with these technology providers will help provide customers with aggregation software, low latency connectivity, hosting solutions and MT4/MT5 bridging and white labeling. Britannia has also partnered with PrimeXM to provide its data analytics to users of the XCore platform.
Commenting on the news, Samuel GUNTER, Head of Foreign Exchange at Britannia, said: “We are delighted to expand our prime brokerage offering to include CFDs and to further expand our technology infrastructure, which will enable us to respond effectively to growing demand from our customers. . Britannia is committed to providing top-notch service to our growing professional and institutional clients through a wide range of trading and investment solutions. This new offering and investment reflects the foundation of Britannia’s strategy of using technology to innovate the Group’s branded boutique, personalized services.
Britannia Prime’s offering includes a combination of brokerage, clearing and trading services for investor clients, typically hedge funds, family offices and other purchasing institutions. Specifically, it provides institutional clients with access to the FX, bullion and NDF markets using BGM’s relationships with liquidity providers and alignment with its banking operations.
Britannia was originally established as a retail broker in 2017 but was acquired in 2018 by Britannia Financial Group Limited. The takeover allowed Britannia to open a more professional and institutional business while retaining the business side of the business.
The PB unit, which launched in 2021, caters to a customer segment that has struggled to access the wholesale price-matching community through a prime brokerage model, which is typically high-intensity capital.
Britannia’s version of the lucrative prime leveraged brokerage model would allow companies of all sizes to access markets using a GUI or API from a technology provider of their choice. Options available are Britannia Navigate (powered by Flextrade systems), Lume FX and PrimeXM. BGM also continues to offer voice execution on FX and options instruments.