StoneX Extends Institutional Offerings with Prime Direct Launch
StoneX Group (NASDAQ: SNEX) announced on Tuesday the launch of new Prime Direct offerings under its Prime Services Division. The new services are based on the group’s proprietary prime brokerage technology.
According to the press release shared with Finance Magnates, the offerings are aimed at bridging the gap between full-service Prime Brokerage services offered to larger managers and discount brokerage options accessible to emerging investors.
It will offer institutional routing and systems to all clients in a direct-to-client format.
“StoneX is continuing to push the envelope when it comes giving our clients access to the technological solutions needed to trade the US equities and options markets at an institutional level,” said Ben Brown, Managing Director of Business Development for Prime Services at StoneX.
“As many other firms look for ways to monetize their customer’s trade flow, we’ve actively developed a platform that uses the same routing protocols institutional traders use to avoid unnecessary fees.”
An Accessible Platform
The company is allowing access to Prime Direct services through its digital platform and will allow customers to trade US-listed equity and options. These services are aimed at family offices, hedge funds and other professional clients.
“We’re excited to have this opportunity to leverage our tech platform to offer the best and most economical solutions to emerging managers and family offices,” Douglas Nelson, Managing Director and Co-Head of Prime Services at StoneX Financial, added.
“As we constantly look to evolve our platform to meet the needs of new managers, we strive to continue providing all of our customers with the same high touch service we’ve been known for throughout the industry.”
Furthermore, many other established financial services companies jumped into the prime brokerage space recently. Britannia Global Markets and ThinkMarkets are two of the most recent additions in the prime brokerage space.
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