Liquidity Finder 2022 Market Survey

Thankyou for undertaking the Liquidity Finder Survey.

This survey is being carried out by LiquidityFinder. LiquidityFinder is the only dedicated comparison site that helps market users find the best matched liquidity providers (Prime of Prime Brokers) for their trading business.

The goal of this survey is to better understand the service levels and requirements in the industry, and to provide Liquidity Providers with feedback to allow them to serve you better. Questions marked with * require an answer whilst others are optional.

Your individual responses to this survey will remain anonymous and confidential and will not be shared with any third parties.

At the end of the survey, there is an option to provide your name and contact details - if you are interested in receiving a copy of the Liquidity Survey report. You will then be sent the full aggregate survey results after the survey closes on the 31st March.

As a thank you for your time, we have also arranged with our friends at Aquila Markets for all survey participants to receive one month free access (no credit card required / no commitment) to their highly regarded daily market outlook and commentary, Aquila Club.

This Liquidity Finder survey should take no more than 15 minutes to complete.

Thank you in advance for your valued feedback - please click the OK below to continue.

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* 1. What is your position in your company? (eg: Trader, Liquidity Manager, Head of Risk, etc)

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* 2. In which country are you based?

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* 3. What is your average FX monthly trading volume (in USD Millions)?

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* 4. Which trading platform does your business use?

360T

Celer

CQG

cTrader

Currenex

DMALINK

EBS Direct

EBS Institutional

EBS Market

EuronextFX (Fastmatch)

Flextrade

FXAll

FXSpotStream

Hotspot

Integral

Lucera

MT4

MT5

ProTrader

Smarttrade

Spotex

Tradair

TraderEvolution

TraderTools

Tradestation

TradingView

Other (please specify)

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* 5. What instruments do you / your firm currently trade?

Spot FX

FX Forwards

FX Swaps

NDFs

FX Options

FX CFDs

FX Futures

Equities - Cash

Equities - CFDs

Cryptos - Cash

Cryptos - CFDs

Futures - FX

Futures - Soft Commodities

Future - Energy

Futures - Fixed Income

Futures - Cryptos

Government Bonds

Corporate Bonds

Other (please specify)

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* 6. Please rate the following Liquidity Providers that you CURRENTLY have active trading relationships with

	Rating
ACY Securities	ACY Securities Rating menu
ADSS	ADSS Rating menu
Advanced Markets	Advanced Markets Rating menu
BP Prime	BP Prime Rating menu
Britannia Global Markets	Britannia Global Markets Rating menu
CMC Markets Connect	CMC Markets Connect Rating menu
CrescoFX	CrescoFX Rating menu
DMALINK	DMALINK Rating menu
EquitiCapital	EquitiCapital Rating menu
Finalto	Finalto Rating menu
FXCM	FXCM Rating menu
FXPrime	FXPrime Rating menu
FXSpotStream	FXSpotStream Rating menu
GCEX	GCEX Rating menu
Global Prime	Global Prime Rating menu
INFINOX / IXO Prime	INFINOX / IXO Prime Rating menu
Invast Global	Invast Global Rating menu
IS Prime	IS Prime Rating menu
JFD Bank	JFD Bank Rating menu
Liquidity.NET	Liquidity.NET Rating menu
LMAX Digital	LMAX Digital Rating menu
LMAX Exchange	LMAX Exchange Rating menu
Markets Direct	Markets Direct Rating menu
Match-Prime Liquidity	Match-Prime Liquidity Rating menu
MFP Trading	MFP Trading Rating menu
Saxo Bank	Saxo Bank Rating menu
Sucden Financial	Sucden Financial Rating menu
Swissquote Bank	Swissquote Bank Rating menu
TopFX	TopFX Rating menu

Other (please specify the company and include the rating)

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* 7. What type of trading strategy do you use?

Martingale

News

Averaging in

Trend Trading

Breakout Trading

Momentum Trading

More than one strategy

Other (please specify the Trading Strategy)

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* 8. When leveraging for client accounts which of the following metrics do you target?

Return

Vol

Sharpe

Max Drawdown

More than one metric

Other (please specify)

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* 9. What risk management solution do you use?

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* 10. What real time metric do you use to manage exposure? (eg NOP)

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* 11. Is exposure a constant or do boundaries adjust dynamically based on volatility, position, correlation etc?

Yes = Constant

No = Dynamic

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* 12. How much risk are you willing to hold over a weekend, compared to during the week (non-crypto)?

1-10%

11-30%

31-50%

51-80%

81%+

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* 13. How many Liquidity Providers do you currently have active trading relationships with?

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* 14. Do you use a Bank Prime Brokerage or Prime of Prime Brokerage service?

Bank Prime Broker

Prime of Prime Broker

Other (please specify)

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* 15. Which of the following Liquidity Providers do you currently have active trading relationships with

ACY Securities

ADSS

Advanced Markets

BP Prime

Britannia Global Markets

CMC Markets Connect

CrescoFX

DMALINK

EquitiCapital

Finalto

FXCM

FXPrime

FXSpotStream

GCEX

Global Prime

INFINOX / IXO Prime

Invast Global

IS Prime

JFD Bank

Liquidity.NET

LMAX Digital

LMAX Exchange

Markets Direct

Match-Prime Liquidity

MFP Trading

Saxo Bank

Sucden Financial

Swissquote Bank

TopFX

Other (please specify)

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* 16. Are you considering adding or switching your Prime Broker / Prime of Prime in the next 3-6 months?

Yes

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* 17. Have you changed any of your Prime Broker / Prime of Prime provider in the past 12 months?

Yes

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* 18. What could be your main reason for changing Prime Broker / Prime of Prime / Liquidity provider?

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* 19. Which of the following are you looking at adding to your trading portfolio for the rest of 2022?

Cryptocurrency CFDs (not trading any now)

A greater range of Crypto CFDs

NDFs (Non-Deliverable Forwards)

More Emerging Market Currencies

Single-Stock Equity CFDs

Single-Stock Equities (cash)

Fractional share trading

Futures trading

FX Options

Equity Options

Fixed Income Trading

Other (please specify)

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* 20. Are you looking at registering your business in any other jurisdiction in 2022?

Yes

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* 21. Trade execution analytics - do you have a current solution for this aspect of your trading?

Yes

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* 22. Please select your EXISTING PRIMARY and PREVIOUS PRIMARY liquidity provider from the following list


EXISTING PRIMARY Liquidity Provider	EXISTING PRIMARY Liquidity Provider menu
PREVIOUS PRIMARY Liquidity Provider	PREVIOUS PRIMARY Liquidity Provider menu

Other - please specify your EXISTING PRIMARY Liquidity Provider if they are not on the above list.

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* 23. What is your perception of your EXISTING PRIMARY Liquidity Provider for: [Please answer a minimum of 3]

	1 - Extremely poor	2 - Poor	3 - Average	4 - Good	5 - Excellent
Pricing (Spreads)	Pricing (Spreads) 1 - Extremely poor	Pricing (Spreads) 2 - Poor	Pricing (Spreads) 3 - Average	Pricing (Spreads) 4 - Good	Pricing (Spreads) 5 - Excellent
Rejection Rates	Rejection Rates 1 - Extremely poor	Rejection Rates 2 - Poor	Rejection Rates 3 - Average	Rejection Rates 4 - Good	Rejection Rates 5 - Excellent
Negative Slippage	Negative Slippage 1 - Extremely poor	Negative Slippage 2 - Poor	Negative Slippage 3 - Average	Negative Slippage 4 - Good	Negative Slippage 5 - Excellent
Flexibility with stream / liquidity provision	Flexibility with stream / liquidity provision 1 - Extremely poor	Flexibility with stream / liquidity provision 2 - Poor	Flexibility with stream / liquidity provision 3 - Average	Flexibility with stream / liquidity provision 4 - Good	Flexibility with stream / liquidity provision 5 - Excellent
Ability to execute in large size	Ability to execute in large size 1 - Extremely poor	Ability to execute in large size 2 - Poor	Ability to execute in large size 3 - Average	Ability to execute in large size 4 - Good	Ability to execute in large size 5 - Excellent
Ability to benchmark execution	Ability to benchmark execution 1 - Extremely poor	Ability to benchmark execution 2 - Poor	Ability to benchmark execution 3 - Average	Ability to benchmark execution 4 - Good	Ability to benchmark execution 5 - Excellent
Range of Instruments - FX	Range of Instruments - FX 1 - Extremely poor	Range of Instruments - FX 2 - Poor	Range of Instruments - FX 3 - Average	Range of Instruments - FX 4 - Good	Range of Instruments - FX 5 - Excellent
Range of Instruments - Equities	Range of Instruments - Equities 1 - Extremely poor	Range of Instruments - Equities 2 - Poor	Range of Instruments - Equities 3 - Average	Range of Instruments - Equities 4 - Good	Range of Instruments - Equities 5 - Excellent
Range of Instruments - Cryptos	Range of Instruments - Cryptos 1 - Extremely poor	Range of Instruments - Cryptos 2 - Poor	Range of Instruments - Cryptos 3 - Average	Range of Instruments - Cryptos 4 - Good	Range of Instruments - Cryptos 5 - Excellent
End of day / rollover spreads	End of day / rollover spreads 1 - Extremely poor	End of day / rollover spreads 2 - Poor	End of day / rollover spreads 3 - Average	End of day / rollover spreads 4 - Good	End of day / rollover spreads 5 - Excellent
Margin Levels - Major Currencies	Margin Levels - Major Currencies 1 - Extremely poor	Margin Levels - Major Currencies 2 - Poor	Margin Levels - Major Currencies 3 - Average	Margin Levels - Major Currencies 4 - Good	Margin Levels - Major Currencies 5 - Excellent
Margin Levels - Emerging Markets	Margin Levels - Emerging Markets 1 - Extremely poor	Margin Levels - Emerging Markets 2 - Poor	Margin Levels - Emerging Markets 3 - Average	Margin Levels - Emerging Markets 4 - Good	Margin Levels - Emerging Markets 5 - Excellent
Margin Levels - Cryptos	Margin Levels - Cryptos 1 - Extremely poor	Margin Levels - Cryptos 2 - Poor	Margin Levels - Cryptos 3 - Average	Margin Levels - Cryptos 4 - Good	Margin Levels - Cryptos 5 - Excellent
Overnight Swap Rates	Overnight Swap Rates 1 - Extremely poor	Overnight Swap Rates 2 - Poor	Overnight Swap Rates 3 - Average	Overnight Swap Rates 4 - Good	Overnight Swap Rates 5 - Excellent
White Label Service	White Label Service 1 - Extremely poor	White Label Service 2 - Poor	White Label Service 3 - Average	White Label Service 4 - Good	White Label Service 5 - Excellent
Liquidity Provider's Back Office Systems	Liquidity Provider's Back Office Systems 1 - Extremely poor	Liquidity Provider's Back Office Systems 2 - Poor	Liquidity Provider's Back Office Systems 3 - Average	Liquidity Provider's Back Office Systems 4 - Good	Liquidity Provider's Back Office Systems 5 - Excellent
Ease of Deposit / Withdrawal	Ease of Deposit / Withdrawal 1 - Extremely poor	Ease of Deposit / Withdrawal 2 - Poor	Ease of Deposit / Withdrawal 3 - Average	Ease of Deposit / Withdrawal 4 - Good	Ease of Deposit / Withdrawal 5 - Excellent
Overall connectivity / technology solution	Overall connectivity / technology solution 1 - Extremely poor	Overall connectivity / technology solution 2 - Poor	Overall connectivity / technology solution 3 - Average	Overall connectivity / technology solution 4 - Good	Overall connectivity / technology solution 5 - Excellent
Commission levels	Commission levels 1 - Extremely poor	Commission levels 2 - Poor	Commission levels 3 - Average	Commission levels 4 - Good	Commission levels 5 - Excellent
Onboarding time	Onboarding time 1 - Extremely poor	Onboarding time 2 - Poor	Onboarding time 3 - Average	Onboarding time 4 - Good	Onboarding time 5 - Excellent
Customer Service	Customer Service 1 - Extremely poor	Customer Service 2 - Poor	Customer Service 3 - Average	Customer Service 4 - Good	Customer Service 5 - Excellent

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* 24. What is your perception of your PREVIOUS PRIMARY Liquidity Provider for: [We would appreciate your feedback but please feel free to skip if you prefer not to say]

	1 - Extremely poor	2 - Poor	3 - Average	4 - Good	5 - Excellent
Pricing (Spreads)	Pricing (Spreads) 1 - Extremely poor	Pricing (Spreads) 2 - Poor	Pricing (Spreads) 3 - Average	Pricing (Spreads) 4 - Good	Pricing (Spreads) 5 - Excellent
Rejection Rates	Rejection Rates 1 - Extremely poor	Rejection Rates 2 - Poor	Rejection Rates 3 - Average	Rejection Rates 4 - Good	Rejection Rates 5 - Excellent
Negative Slippage	Negative Slippage 1 - Extremely poor	Negative Slippage 2 - Poor	Negative Slippage 3 - Average	Negative Slippage 4 - Good	Negative Slippage 5 - Excellent
Flexibility with stream / liquidity provision	Flexibility with stream / liquidity provision 1 - Extremely poor	Flexibility with stream / liquidity provision 2 - Poor	Flexibility with stream / liquidity provision 3 - Average	Flexibility with stream / liquidity provision 4 - Good	Flexibility with stream / liquidity provision 5 - Excellent
Ability to execute in large size	Ability to execute in large size 1 - Extremely poor	Ability to execute in large size 2 - Poor	Ability to execute in large size 3 - Average	Ability to execute in large size 4 - Good	Ability to execute in large size 5 - Excellent
Ability to benchmark execution	Ability to benchmark execution 1 - Extremely poor	Ability to benchmark execution 2 - Poor	Ability to benchmark execution 3 - Average	Ability to benchmark execution 4 - Good	Ability to benchmark execution 5 - Excellent
Range of Instruments - FX	Range of Instruments - FX 1 - Extremely poor	Range of Instruments - FX 2 - Poor	Range of Instruments - FX 3 - Average	Range of Instruments - FX 4 - Good	Range of Instruments - FX 5 - Excellent
Range of Instruments - Equities	Range of Instruments - Equities 1 - Extremely poor	Range of Instruments - Equities 2 - Poor	Range of Instruments - Equities 3 - Average	Range of Instruments - Equities 4 - Good	Range of Instruments - Equities 5 - Excellent
Range of Instruments - Cryptos	Range of Instruments - Cryptos 1 - Extremely poor	Range of Instruments - Cryptos 2 - Poor	Range of Instruments - Cryptos 3 - Average	Range of Instruments - Cryptos 4 - Good	Range of Instruments - Cryptos 5 - Excellent
End of day / rollover spreads	End of day / rollover spreads 1 - Extremely poor	End of day / rollover spreads 2 - Poor	End of day / rollover spreads 3 - Average	End of day / rollover spreads 4 - Good	End of day / rollover spreads 5 - Excellent
Margin Levels - Major Currencies	Margin Levels - Major Currencies 1 - Extremely poor	Margin Levels - Major Currencies 2 - Poor	Margin Levels - Major Currencies 3 - Average	Margin Levels - Major Currencies 4 - Good	Margin Levels - Major Currencies 5 - Excellent
Margin Levels - Emerging Markets	Margin Levels - Emerging Markets 1 - Extremely poor	Margin Levels - Emerging Markets 2 - Poor	Margin Levels - Emerging Markets 3 - Average	Margin Levels - Emerging Markets 4 - Good	Margin Levels - Emerging Markets 5 - Excellent
Margin Levels - Cryptos	Margin Levels - Cryptos 1 - Extremely poor	Margin Levels - Cryptos 2 - Poor	Margin Levels - Cryptos 3 - Average	Margin Levels - Cryptos 4 - Good	Margin Levels - Cryptos 5 - Excellent
Overnight Swap Rates	Overnight Swap Rates 1 - Extremely poor	Overnight Swap Rates 2 - Poor	Overnight Swap Rates 3 - Average	Overnight Swap Rates 4 - Good	Overnight Swap Rates 5 - Excellent
White Label Service	White Label Service 1 - Extremely poor	White Label Service 2 - Poor	White Label Service 3 - Average	White Label Service 4 - Good	White Label Service 5 - Excellent
Liquidity Provider's Back Office Systems	Liquidity Provider's Back Office Systems 1 - Extremely poor	Liquidity Provider's Back Office Systems 2 - Poor	Liquidity Provider's Back Office Systems 3 - Average	Liquidity Provider's Back Office Systems 4 - Good	Liquidity Provider's Back Office Systems 5 - Excellent
Ease of Deposit / Withdrawal	Ease of Deposit / Withdrawal 1 - Extremely poor	Ease of Deposit / Withdrawal 2 - Poor	Ease of Deposit / Withdrawal 3 - Average	Ease of Deposit / Withdrawal 4 - Good	Ease of Deposit / Withdrawal 5 - Excellent
Overall connectivity / technology solution	Overall connectivity / technology solution 1 - Extremely poor	Overall connectivity / technology solution 2 - Poor	Overall connectivity / technology solution 3 - Average	Overall connectivity / technology solution 4 - Good	Overall connectivity / technology solution 5 - Excellent
Commission levels	Commission levels 1 - Extremely poor	Commission levels 2 - Poor	Commission levels 3 - Average	Commission levels 4 - Good	Commission levels 5 - Excellent
Onboarding time	Onboarding time 1 - Extremely poor	Onboarding time 2 - Poor	Onboarding time 3 - Average	Onboarding time 4 - Good	Onboarding time 5 - Excellent
Customer Service	Customer Service 1 - Extremely poor	Customer Service 2 - Poor	Customer Service 3 - Average	Customer Service 4 - Good	Customer Service 5 - Excellent

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* 25. Have you experienced any of these issues with your existing or previous liquidity provider / broker? [Please answer a minimum of 3]

	EXISTING PROVIDER	PREVIOUS PROVIDER	Never experienced
Longer rollover times	Longer rollover times EXISTING PROVIDER	Longer rollover times PREVIOUS PROVIDER	Longer rollover times Never experienced
Wider spreads at rollover	Wider spreads at rollover EXISTING PROVIDER	Wider spreads at rollover PREVIOUS PROVIDER	Wider spreads at rollover Never experienced
5 second pricing delay on news	5 second pricing delay on news EXISTING PROVIDER	5 second pricing delay on news PREVIOUS PROVIDER	5 second pricing delay on news Never experienced
Pricing being changed on certain pairs	Pricing being changed on certain pairs EXISTING PROVIDER	Pricing being changed on certain pairs PREVIOUS PROVIDER	Pricing being changed on certain pairs Never experienced
Very thin Top of Book	Very thin Top of Book EXISTING PROVIDER	Very thin Top of Book PREVIOUS PROVIDER	Very thin Top of Book Never experienced
Commissions changed in a low volatility period	Commissions changed in a low volatility period EXISTING PROVIDER	Commissions changed in a low volatility period PREVIOUS PROVIDER	Commissions changed in a low volatility period Never experienced
Monthly charges on accounts you were not aware of	Monthly charges on accounts you were not aware of EXISTING PROVIDER	Monthly charges on accounts you were not aware of PREVIOUS PROVIDER	Monthly charges on accounts you were not aware of Never experienced
Excessive slippage	Excessive slippage EXISTING PROVIDER	Excessive slippage PREVIOUS PROVIDER	Excessive slippage Never experienced
Uncompetitive rollover rates	Uncompetitive rollover rates EXISTING PROVIDER	Uncompetitive rollover rates PREVIOUS PROVIDER	Uncompetitive rollover rates Never experienced
Withholding funds withdrawal	Withholding funds withdrawal EXISTING PROVIDER	Withholding funds withdrawal PREVIOUS PROVIDER	Withholding funds withdrawal Never experienced

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* 26. What is your AUM (in $US) [Please skip if you prefer not to say]

0-$500,000

$500,001-$999,999

$1 million - $5 million

$5 million - $10 million

$10 million - $50 million

$50 million - $100 million

$100 million - $500 million

$500 million +

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* 27. What company do you work for? (please put N/A if prefer not to say)

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* 28. What do you see as your business' greatest challenge over the next 6 months?

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* 29. How do you expect the financial (and other) sanctions recently imposed on Russia to impact your business?

Negatively

No change

Positively

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* 30. Which of the following data would you like to see more of from LiquidityFinder?

FX derivatives price data

Crypto volume / trade / price data

Crypto industry news

Real time pricing from LPs

Information on how to switch LPs

Better deals on Liquidity Provision

Advice on optimising liquidity

Advice on optimising risk

Emerging Market FX

Other (please specify)

None of the above