Shinhan Investment, a South Korea-based securities broker and a part of the Shinhan Banking group and Advanced Markets, a US foreign exchange broker, are set to launch an FX margin trading platform for Shinhan’s clients.
The platform is being introduced to the firm’s approximately 23,000 futures trading clients. FX margin trading will be offered to all of the firm’s eligible clients as part of a phased roll out this year.
Shinhan’s FX margin trading service will be offered in strategic partnership with Advanced Markets, which offers foreign exchange Direct Market Access (FX DMA) to live, competitive quotes streamed by global FX bank market makers.
Jung jong-ok, head of the online business department at Shinhan Investment, said: “FX margin trading is an important new market for Shinhan Investment and its trading clients. We are pleased to offer Advanced Markets’ Direct Market Access model, which provides fully transparent, high speed trade executions, enabling our trading clients to see and trade directly on wholesale FX rates provided by more than 10 leading FX banks.”
Anthony Brocco, CEO of Advanced Markets, said: “Advanced Markets is excited and honored to launch this strategic partnership with Shinhan Investment Corporation. Like Shinhan and other leading global brokers in Asia and elsewhere, we believe FX DMA is the most transparent, fairest, most powerful market structure available to FX traders.”