Seabury Group’s recently formed Seabury Global Markets (SGM) entity has made an initial investment and entered into a multi-year, strategic relationship with Spotex, an FX ECN focused on improving foreign exchange and precious metals trading for both 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. SGM intends to help develop certain Spotex technology and further grow Spotex’s distribution footprint as part of the Seabury Group of companies.
“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,” says 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 Capital (SeaCap), parent company of SGM, owns and operates specialty finance companies providing innovative cross-border and asset-back financing.
“Seabury’s initial investment and global reach will enable Spotex to immediately expand our sales opportunities and distribution efforts,” says 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.”
