IG Group to launch prime brokerage

IG Asia Pte, Singapore’s largest online trading platform, has launched a new brokerage division under the IG Prime brand. The FXPB product is intended for the client segment, which includes medium-sized hedge funds, family offices and other financial institutions that want to access wholesale exchange rates through the prime broker model. 

The British company of prime brokerage services back in 2006 and has recently strengthened its institutional offer in this segment. According to forecasts, it will bring the company about 500 million pounds.

IG Prime launches a liquidity pool that will unite investors on a single platform. It combines trading through a web interface with real-time reporting. In addition, the solution is supported by IG Global Technical Support.

Simon Myers, who is the IG Chief Technology Officer said that the industry-leading trading platforms, designed to provide high speed, stability and sustainability, regularly process millions of dollars of transactions, providing customers with access to more than 40 financial markets. 

IG strengthens staff

Tighter regulation in the banking sector led to an increase in minimum capital requirements, which led to increased costs and prompted many banks to leave the prime brokerage business. The departure of traditional players freed up space for new offers that quickly filled the vacuum. 

Max Hayden, who is the Global Head of Prime Brokerage Sales, noted that hedge funds are more interested in lowering costs than ever, but they also want to work with a reliable and transparent counterparty.

IG has recently hired Forex market veteran Max Hayden as Global Director of Institutional Sales with a focus on the United Kingdom, Switzerland, the Middle East and North Africa (MENA) and the Asia Pacific. Before that, for almost two years, Hayden served as CEO of a brokerage company and financial technology provider ITI Capital.

Hayden was taken to increase sales and increase the reach of IG Group in the prime brokerage business. The experience gained by him over almost three decades of working in the field of brokerage services probably influenced IG’s decision to hire him as head of the institutional sales department.

It goes without question that Hayden indeed will provide a boost to sales, considering his vast experience, but the recent events surrounding the world is disruptive for everyone.