You need a primebroker i think.. Saxo, JFD, Pricemarkets, FXCM Prime ..
I don't necessarily have the best feedback about some of them, hence my reluctance to weigh in on it on an open form.
JFD Prime - I did a decent amount of business with them in 2015. Unless something has changed since I last discussed it with them in April, they probably won't be able to connect you directly to FM. They have three liquidity feeds/pools (and at least one of them will also include FM) - but even if they agree to 'custom-tailor the feed' so FM is the only pricing in it ...it's not going to be optimal both from a cost and technology point of view. Also...if you currently prime at BNP, I'd be inclined to think that you'd be hesitant at getting on with a CySEC (prime) broker.
I didn't have a bad experience with them service-wise, but it wasn't great (despite that I was dealing directly with head of their PB business (more accurately PoP). All that being said...if you'd be doing multiple yards per month with them, it may be a completely different story. But if that's the case...I have to believe there are better options.
On that note...what type of volume are you intending on doing?
I'll follow up about the others when I get a chance a bit later...but depending on the line above, it could be you should be working with with a different list (maybe with the exception of Saxo).
Thanks a lot for your sharing your experience.
I traded this year on average around 65 million USD equivalent notional per day, not much to qualify for the top brass of PB desks. But then it is not that I am drawn to them. I am interested in someone with very competitive commission rates and well, a solid technology stack. And any sort of markups are a direct and total deal killer for me. CySEC, well, I prefer a firm that is properly registered in either the US, Europe (excl. Cyprus). Pepperstone, for example, seems to mark up their spreads, no matter how much they deny it. When you look at the spreads they post of their liquidity pool then it clearly is way wider even than some individual ECNs I know. Lots of scams, grey zones, and pitfalls in this industry to be aware of.
In summary, thanks again for sharing, but yes Cyprus registered firms are kinda not under consideration, maybe someone a little more reputable.
No problem - I'll be happy if I can help.
Doing over a yard per month should certainly entitle you to be beyond the 'pepperstones' of the world. There's a whole lot between Pepperstone and Citi/GS, where you should be able to find a good fit. However, my volumes are comparable, and I can attest it's somewhat of a difficult tier to be in (particularly depending on one's access/connectivity needs).
Just to be sure...do you specifically want/need Fastmatch? or would a different feed/ecn/liquidity-pool suffice (of course, provided that it meets the other criteria mentioned in your last post)? This is obvious, but if it's the latter, you have several more options than otherwise.
Also, is this just screen trading? or via API?