myForex for FCMs and Banks

myForex is a trading technology for Forex market makers (dealers) and brokers. These market participants are usually recognized as FCMs (Futures Commission Merchants). FCMs and banks can operate on the retail Forex market as a Primary Market Makers (PMMs): accept traders' funds, generate price quotes, etc.

myForex Platform allows PMMs to seamlessly conduct their operations online for all their traders, affiliates, and partners.

Below please find the details on how to organize PMM trading infrastructure grounded on myForex Trading Platform. You may also download myForex Business Solutions document in Adobe PDF format.

For printable version of myForex solutions for all known market participants, please download myForex Business Solutions document in Adobe PDF format.

 

• Existing retail Forex PMMs

Market-makers establish relationships with the number of smaller partners (Brokers) and affiliates (Introducing Brokers). The Platform in turn can be white labeled to the partner’s or affiliate customers, who will see the Platform branded for their service provider on their desktops. There are no technological constraints on the amount of partners and affiliates participating in the network.

Established firms have all the advantages of incumbency - capital resources, customer information, established brands and franchises - which, properly managed, can be migrated to the Internet, where they can be extended and enhanced. However, established companies face the problem of structural transformation. They must reconfigure and ultimately cannibalize their legacy assets to build new Internet-based trading platforms.

Financial institution will offer this as a service to the customers, affiliates and partners, which in turn do transactions with their affiliates and customers. Partner transactions are hidden from primary company thus providing full confidentiality. They are registered on the partner books, and the re-labeled transaction is sent to the primary company and the deals are booked on both systems. The separation of company from the partner-to-customer transactions can be a key point in your selection of a third party to provide the trading system.

FX salespeople or operators at financial services companies will also be able to use the product to service clients who do not trade online but deal via the telephone or other non-electronic channels, still giving them access to the liquidity pool.
The goal is to provide customers, partners, and affiliates with access to liquidity at a low cost.

 

• Startup PMMs (the FCMs and banks just starting online retail Forex trading operations)

These institutions generally conduct trading operations on contiguous markets: futures, options, stock, etc. Startups have important advantages of cost, speed and agility. Unfettered by legacy systems, overheads or organizations, they can build new value propositions that quickly define and exploit new markets.
Startup financial services company will offer this as a service to their customers and start to build own network of partners and affiliates to gather new assets and generate new revenue streams.