IG Prime stands as a prime brokerage service provider dedicated to institutional clients. In its latest move, IG prime has taken a critical step in opening up its platform to various algo traders of the world. It did so by way of integrating Bloomberg’s Execution Management System (EMSX).
Algo Trading For IG Prime One Step Closer
This agreement with Bloomberg will see it provide IG Prime clients with Tier 1 bank algo trading suite access, doing so by way of EMSX. EMSX itself entails one of the largest communities of portfolio managers and buy-side traders the world has to offer, as well.
Through the trading algorithms that Bloomberg’s EMSX provides, broker-neutral execution management systems can be offered, doing so by way of real-time alerts. These alerts, in turn, are done by leveraging the Financial Information exchange protocol, or FIX.
Dedicated To Medium-Scale Institutional Clients
Bloomberg EMSX stands as a multi-agent trading platform, one widely used globally by hedge funds, investment managers, brokers, and investment banks. The system allows its users to send orders to over 6,500 destinations across the globe, doing so with algorithmic trading support.
EMSX also allows for market analysis, financial news, and aids portfolio managers in the process of liquidity discovery. EMSX allows for traders to gain insights, allowing them to conclude the best trading performance and execution for that specific portfolio.
Back in April of this year, IG Group had launched its new prime brokerage unit, dubbing it under the brand of “IG Prime.” The platform provides synthetic prime and custody services, spread across an array of asset classes, including indices, equities, commodities, FX, and even cryptocurrencies.
The intended client segment for IG Prime stands as family offices, mid-sized hedge funds, and various other buy-side institutions. As it stands now, these groups are suffering from a number of challenges, one of which includes struggling to gain access to the wholesale forex price matching community by way of a prime brokerage model.
Prioritizing Institutional Growth
IG Group had launched its prime brokerage services all the way back in 2006, but has opted to only recently start to strengthen its dedicated institutional offering. As it stands now, IG expects this platform to yield a potential market of 500 million Pound Sterling.
IG Prime’s business sees the introduction of a liquidity pool offering, one that connects investors through a single venue. The platform itself combines real-time reporting with web-based trading, and holds the support by the global client support network of IG, which itself spans 16 countries in total.