Leading Investment & Securities (Leading), a Korea-based securities broker, is planning to launch margin foreign exchange (FX) trading service through an online trading FX direct market access (DMA) platform.
Leading said that it will offer margin FX alongside its existing securities trading services and is scheduled to launch in early November following a pre-launch period in which demonstration platforms will be provided to interested clients.
The firm added that FX margin trading service will be offered in strategic partnership with Advanced Markets, a designated US futures commission merchant and forex dealer member, which offers direct market access to live, competitive quotes streamed by more than 10 FX bank market makers. It has further said that Leading’s 24-hour operation desk, which currently supports the firm’s overseas equities trading operations, will support the margin FX trading service.
In addition to providing innovative DMA trading model, Leading and Advanced Markets have also entered into tripartite depository credit structure to provide the fund protection to clients, In this structure, Leading client funds will be deposited at Macquarie Bank in a custody account under its name, not in an FDM account.
Cheul Park, CEO of Leading Investment & Securities, said: “We have examined a wide range of FX margin platforms and market structures and believe the FX Direct Market Access model will provide fully transparent, high speed trading access to our clients, enabling them to have the best possible access to the foreign exchange markets. In making our selection, we considered Advanced Markets’ full agency model, in which the firm takes no market risk, as well as the role of Macquarie Bank, as depository of client funds and its involvement with Advanced Markets.”
Anthony Brocco, CEO of Advanced Markets, said: “Advanced Markets warmly welcomes Leading Securities as a valuable strategic partner. We commend their selection of a comprehensive DMA model, which will enable Leading clients to trade directly on highly competitive prices streamed by more than 10 of the world’s leading FX banks. Like Leading, we believe DMA is the most transparent, fully disclosed and fairest market structure available to FX traders.”
