US investment bank Morgan Stanley has made a $15 million investment in foreign exchange (FX) technology and trading platform provider, Integral.
Integral acts as a technology partner for banks, brokers and asset managers in the FX market, providing a cloud-based workflow management service and trading platform.
The vendor currently has more than 200 top-tier financial institutions that use its technology and services within their FX business. The firm added that it will capitalise on its recent success across its business lines, including growth in its Open Currency Exchange (OCX) FX venue, which combines market participants into a single network of liquidity.
“The market opportunity for Integral has never been better,” Harpal Sandhu, founder and CEO of Integral, commented. “Our focus on building the best FX solutions coupled with our unparalleled customer service has given us the largest installed base in the business – more than 200 leading institutions run on the Integral platform.”
Integral recently announced a partnership with Moscow Exchange to deliver its OCX service, allowing the exchange’s customers access to liquidity, higher performance and lower latency. The firm also teamed up with prime broker Linear Investments earlier this month to provide an upgraded version of its FX systems which is integrated with pricing and risk management tools.
“We are excited to partner with Integral to support their continued growth and market expansion. We believe that Harpal and his team have developed an innovative and best-in-class FX technology platform which successfully addresses the unique needs of its customer base,” Robert Bassman, managing principal, Morgan Stanley Expansion Capital, added. “We seek to invest in proven and scalable companies that provide highly differentiated offerings like Integral.”