ADVANCED MARKETS LAUNCHES PLATINUM, PALLADIUM TRADING New Products Are First Under Restructured Regulatory Paradigm
CHARLOTTE, NC—February 17, 2014—Advanced Markets Ltd., a wholesale provider of liquidity, technology and credit foreign exchange and metals solutions to the global bank and brokerage industry, launched trading in spot platinum and palladium today.
The new metals products will be priced and traded through Advanced Markets’ Direct Market Access (DMA) market structure, enabling market end users to trade on multibank liquidity provided by bank market makers in a low latency, pure agency model.
The company currently supports DMA trading of gold and silver. Platinum and palladium have been in live test trading with a select group of clients since February 3, 2014, with the new products now available to all Advanced Markets clients.
“We are pleased to add these exciting new metals products to the wholesale solutions we provide to leading brokers and banks globally,” said Anthony Brocco, Chairman, Advanced Markets. “We see the benefits of DMA in our existing FX and metals markets, including tighter, truer bid/offer spreads and minimal to zero slippage or rejections, accruing to traders of these new metals products.”
The launch marks the first new products offered under Advanced Markets new legal and regulatory structure. Late in 2013, the Australian Securities & Investments Commission (ASIC), which has regulated the firm since June, approved Advanced Markets Ltd., a new Caymans Island-registered entity, as a regulatory licensee. This change enables the firm to offer a broader array of services and products, including contracts for differences (CFD) and energy products, to the global bank and brokerage community it serves.
“Our new regulatory structure and domicile supports the breadth of financial and commodity products demanded by our global wholesale clientele,” said Brocco. “We look forward to launching CFDs and other eligible currency and energy products in the coming months.”