TrueFX has announced the launch of the TrueFX Clearing Member network, with Axicorp, FXCM and Velocity Trade providing access to the buy-side.

With this development, clients will now have the option to clear through Jefferies FXPB, the central credit counterparty for TrueFX, or to open an account with a Clearing Member to directly access liquidity on the venue. The new TrueFX Clearing Member network allows buy-side firms of all sizes to access liquidity from leading market makers without an intermediary. 

“TrueFX is an exceptional step forward in the integration of connectivity, liquidity, clearing and bridging technology. Bringing these services together in one seamless ecosystem allows for significant costs savings to the end client,” said Brendan Callan, CEO of FXCM.

“The size and scale of our Clearing Members allows TrueFX to service many more segments of the buy-side community. Having introduced significant efficiencies and cost reductions to the market through TrueFX, we look forward to bringing those savings to the widest possible user base,” said Harpal Sandhu, CEO of Integral and technology provider for TrueFX.