Scope Prime, the institutional arm of brokerage firm Rostro Group, has added a new set of instruments to its liquidity offering.
The firm announced on Thursday that it has added spot gold trading against a number of new currencies, including the Chinese Yuan, Japanese Yen, and Australian Dollar.
Scope Prime has also added spot trading in silver against the Australian Dollar, Euro and Japanese Yen.
In a statement, Scope Prime CEO Daniel Lawrance said that the new offering, which is in addition to existing trading against the US dollar, was in response to client demand.
“Whilst an institutional counterparty has always had the ability to structure trades like this, the feedback from many was clear,” said Lawrance.
“They preferred to work with one base currency for their trades, as this enabled them to have better visibility when it came to risk management. We also know that bullion is frequently used as a hedging tool, so this latest innovation is an extension of the growth in our underling tradable universe which now includes a growing number of non-USD denominated assets.”
