NEW YORK--(BUSINESS WIRE)--Seabury Global Markets LLC (“SGM”), a subsidiary of Seabury Capital LLC and a provider of FX liquidity management and trade execution solutions, announced today that it has initiated a new collaboration between SGM, Spotex, and SBI FX Co., Limited, a wholly-owned subsidiary of Japan's leading online securities firm SBI Holdings.
SGM has been selected by BYFX, the trading name of SBI FX Co., Limited, which recently launched a new leveraged foreign exchange business in Hong Kong, to be the end-to-end technology partner supplying a full suite of tools and functionality that covers ECN and peer-to-peer liquidity, back office systems, margin and credit modules along with other crucial components such as white label trading front end and MT4 bridging technology.
Andre Monza, Seabury Global Markets Managing Director and Head of Asia, commented: “This is a phenomenal opportunity for Seabury Global Markets and Spotex to collaborate with a world-class organization like SBI Holdings and BYFX in the Asian region. The strong interest between our companies to apply cutting-edge technology, decades of combined experience in FX and precious metals and BYFX’s plan to rapidly extend innovation into the Asian marketplace offer us a chance to help reshape the current landscape and create a lasting impact in the region.”
“We’re very excited to be working with SBI Holdings and BYFX to deliver an end-to-end FX trading and white label solution combined with an execution capability that spans the globe,” added Spotex Chief Executive Officer Ritesh Agrawal. “Our companies’ offering will benefit buy and sell side clients and retail brokers looking for better liquidity and a sophisticated white label product.”
BYFX is the first SBI Holdings overseas business unit to directly target clients outside Japan under the SBI Holdings brand with a primary market focus on Greater China. The company is dedicated to provide a comprehensive FX liquidity solution and trading technology consultation which includes trade monitoring, price aggregation, trade matching, back end and reporting systems.
“We are very excited to partner with Seabury Global Markets who can deliver an end-to-end trading solution to us without losing the high degree of customizable flexibility that is paramount to our strategy. Seabury Global Markets and Spotex have reciprocated our commitment that is necessary to establish a robust long-term relationship," concluded BYFX Chief Executive Officer Zhu Min.
About SBI FX Co., Limited
SBI FX Co., Limited, a wholly-owned subsidiary of SBI Holdings in Japan, provides leveraged FX services under its trading name BYFX. The company was found on 22 May 2015 and is headquartered in Hong Kong. SBI Holdings is listed on the Tokyo Stock Exchange (stock code 8473), which is one of the largest online securities groups in Japan. It has created a success story from its extensive coverage of business including venture capital, brokerages, investment banking and the pharmaceutical industry. The group owns 219 companies worldwide with more than 20 million clients, according to SBI Holdings, Inc. third quarter FY2016 financial results (Fiscal Year Ending March 2017). SBI FX Co., Limited's CE number is BHK360. www.BYFX.com
About Seabury Global Markets
Seabury Global Markets LLC (“SGM”) is the investment and marketing vehicle of Seabury Capital LLC to deploy and market financial, technical and human resources into the financial technology space.
Spotex is an innovative FX ECN focused on improving Foreign Exchange trading for both institutions and retail brokers. Spotex has developed intelligent exchange technologies that build and apply quantitative metrics to participants based on their trading behavior. www.spotex.com
Seabury Capital LLC (“SeaCap”), a wholly-owned subsidiary of Seabury Group LLC, owns and operates a number of specialty finance companies providing innovative cross-border financing for equipment and trade receivables as well as insurance-backed auto service and financial obligations. SeaCap recently launched a merchant banking business to take minority equity positions in, and to provide debt financing to, middle-market companies. SeaCap also owns software companies providing enterprise solutions to airlines, aerospace companies and institutional foreign exchange and precious metals traders. www.seaburygroup.com