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Prime Brokers

  • #21
  • Jun 14, 2012 11:00am Jun 14, 2012 11:00am
Yes, their Pro-platform is called "Velocity" and is quite different from the retail-software.
  • #22
  • Jun 16, 2012 2:30am Jun 16, 2012 2:30am
Jack Larkin,

Can you please explain me the difference between prime brokers and market makers?

So, the bank offers a prime broker service in which they serve other clients and receive liquidity also from other banks and market making is ONLY trading with other banks?

Have I understood that correct?

Cheers
  • #23
  • Jun 16, 2012 8:56am Jun 16, 2012 8:56am
Quoting Forex5050
Jack Larkin,

Can you please explain me the difference between prime brokers and market makers?

So, the bank offers a prime broker service in which they serve other clients and receive liquidity also from other banks and market making is ONLY trading with other banks?

Have I understood that correct?

Cheers

I'm a little pressed for time, so I'll link a good post on what a PB does by Darkstar:

http://www.forexfactory.com/showthre...23#post3723123

So effectively they are a broker to other brokers or institutional clients who need a counterparty relationship but aren't doing enough volume or aren't as capitalized well enough to go direct with the major banks. (They also provide a lot of record keeping services for their clients, as well as other support/operational side services.)

The banks have multiple divisions.. some deal with retail, some only institutions, some only other large institutions and other banks...

CitiFX might deal with retail clients and some smaller/mid-sized funds and institutions.

Citi PB might deal with small to mid-sized institutions and maybe some smaller regional banks (depending on what they bank needs to use the service for.) These people want to deal directly with the 'source' banks but pay a PB to work with them since they might not do enough volume on their own (or have enough spare cash) to deal with the banks directly.

Citibank on the highest level might only conduct direct trading business with other banks such as DB, UBS, etc..




EDIT, I deleted the part on market making since it would be better to just focus on PB relationships.
FXGears.com
  • #24
  • Jun 16, 2012 9:15am Jun 16, 2012 9:15am
Quoting shrike
Yes, their Pro-platform is called "Velocity" and is quite different from the retail-software.
Morgan stanley's matrix is pretty good, used it for a bit and quite liked it, Don't know what min account size is for MS but it's probably 100-250k.
  • #25
  • Jun 16, 2012 11:20am Jun 16, 2012 11:20am
Thanks Jack, much appreciated!

Quoting JeremyWS
Morgan stanley's matrix is pretty good, used it for a bit and quite liked it, Don't know what min account size is for MS but it's probably 100-250k.
Do you mean you used a demo account for Matrix or?
  • #26
  • Jun 16, 2012 11:49am Jun 16, 2012 11:49am
Quoting Forex5050
Thanks Jack, much appreciated!



Do you mean you used a demo account for Matrix or?
No used matrix for a few weeks, was quite impressed by it, not sure if it would be my first choice but if you are looking for a large institution to trade with (MS, GS, Citi etc) matrix should be something you look into.
  • #27
  • Jun 18, 2012 1:17am Jun 18, 2012 1:17am
guys,
anyone trade with Ironfx

or heard about it ......
  • #28
  • Jun 18, 2012 8:14am Jun 18, 2012 8:14am
Quoting amralmassry
guys,
anyone trade with Ironfx

or heard about it ......
They aren't a prime broker or related to this thread.

There might be a tread about them... might have to search the broker name on our forums and ask there.

Personally, I have no experience with them.
FXGears.com
  • #29
  • Jun 18, 2012 9:11am Jun 18, 2012 9:11am
Quoting amralmassry
guys,
anyone trade with Ironfx

or heard about it ......

Sure, my good friend Tony Stark trades with Ironfx all the time...In fact, he tells me that their employees gets on FF once a year to announce their existence..

Jack_Larkin- Thanks for the information and thread link-useful bit of knowledge.
  • #30
  • Jun 18, 2012 3:20pm Jun 18, 2012 3:20pm
Quoting JeremyWS
No used matrix for a few weeks, was quite impressed by it, not sure if it would be my first choice but if you are looking for a large institution to trade with (MS, GS, Citi etc) matrix should be something you look into.
Not everyone here is pretending to trade with a prime broker.

I just checked, Matrix has no demo account and it is unlikely you traded with them, as you need at least 1 million.

  • #31
  • Last Post: Jun 18, 2012 5:19pm Jun 18, 2012 5:19pm
Quoting Forex5050
Not everyone here is pretending to trade with a prime broker.

I just checked, Matrix has no demo account and it is unlikely you traded with them, as you need at least 1 million.

I would have hoped when I said I used it for a few weeks you would have picked up on the fact that the account wasn't my own.

But to clear it up, I spent a month working a DB for work experience and even though they have there own platform they also had most others and I used matrix.
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