New York - Seabury Group, the advisory and professional services firm, has announced that its recently formed Seabury Global Markets entity has made an initial investment and entered into a multi-year, strategic relationship with Spotex, an FX ECN fproviding foreign exchange and precious metals trading for buy and sell-side participants.
The new agreement follows the January 2016 announcement of a Joint Product Offering, in which the companies agreed to combine certain products and work together to expand each other's client base.
"We are excited to build on the existing partnership between our companies, which has been well received. Feedback from clients has been positive and we will all benefit from our mutual business operations," said Rob Fleschler, Seabury Global Markets President and CEO. "This expanded collaboration will deepen Seabury's capabilities to provide our clients with an additional source of liquidity, intelligent client-facing technologies and tools."
Spotex will remain an independently run company headed by Ritesh Agrawal, Spotex Chief Executive Officer while becoming part of the product offerings at Seabury Group and its affiliated companies.
"Seabury's initial investment and global reach will enable Spotex to immediately expand our sales opportunities and distribution efforts," said Ritesh Agrawal, Spotex Chief Executive Officer. "The Spotex ECN provides a complete end-to-end solution for institutions and retail brokers through participating prime broker and prime relationships."