GCEX Group has launched two new price feeds, XplorSkewPlus and XplorSkew. These feeds are created for brokers that use aggregation, helping them get better spreads and performance in the foreign exchange and precious metals markets.
These new feeds help solve problems brokers face with current liquidity, which means how easily they can buy and sell. They aim to make brokers more competitive and profitable. As liquidity providers are being more careful because they worry about losing profits, these feeds give brokers a helpful solution for getting better prices.
Lars Holst, the Chief Executive Officer and Founder of GCEX, noted that the firm is happy to offer this product to its clients, especially now that liquidity providers are being more cautious. These price feeds help brokers reduce their spreads and improve their trading methods.
GCEX has teamed up with DV Chain, a company that provides crypto liquidity and market-making services. This partnership will help GCEX give clients tighter spreads and lower execution costs.
GCEX Group gives clients solutions for deep liquidity access across different foreign exchange and digital assets. The firm offers various Forex brokerage and crypto technology solutions via its XplorDigital suite, which helps with rules, liquidity, and managing risks.
The company’s headquarters is located in London and have several licenses. It received licenses from the UK’s Financial Conduct Authority (FCA), the Dubai Virtual Assets Regulatory Authority, and the Danish Financial Supervisory Authority.
The UK Branch Of GCEX Reported An Annual Income Of £2.3 Million For 2023 A few months ago, the UK branch of GCEX said it ended 2023 with an annual income of £2.3 million and a pre-tax shortfall of £387,429. This turnover was nearly half of last year’s £4.46 million.
These numbers only represent the UK branch, not the whole group. In the official announcement, the company said the revenue drop was due to the long effects of the “crypto winter” and the very high growth in 2022.
GCEX also shared that its revenue has been steadily growing month by month since early 2023, and this trend is continuing into 2024. Holst said the crypto winter really affected the whole industry, and GCEX was no different.
However, the firm has been strong and adaptable, managing its costs well and finding new ways to make money, like offering staking services for professional and institutional clients.
