Warm welcome for Stater's matched principal model
New prime-of-prime service has no intention of sparking a price or leverage war, its chief says
Despite the proliferation of prime-of-prime (PoP) providers in foreign exchange markets since the Swiss National Bank (SNB) event in January 2015, there is still a need for models operating purely on a matched principal basis, says the chief executive of Stater Global Markets, a PoP service that launched earlier this month.
"The news of our opening had a generally very positive reaction from the market, and we received good interest from liquidity providers, prime brokers and prospective
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