Mathew Tate, Managing Partner, Charter Prime
Charterprime is a fast-growing group specializing in providing international financial services, most notably in the brokerage of financial products and foreign exchange. The company started as a solution to a problem in 2012, when a group of experienced asset managers couldn’t find the brokerage solution they needed. Mr. Mathew Tate and Mr. Simon Stephen, the founders of the company, saw this as an opportunity to build a product from the ground up and rethink the brokerage space. Charterprime prides itself on creating bespoke solutions for its valued partners.
The Company has an mindset of “Build a broker that we would trade with”, which led them to receive multiple awards for both institutional and retail product offerings. These award-winning services resulted in strong partnerships being founded with with Tune Group, the parent company of AirAsia. Recently, the company started working with Alibaba in the esports sector of South East Asia.
Winning over Challenges
The global trend towards lower leverage for retail traders is creating challenging situations for many unprepared brokers, asset managers and traders alike. In addition to sweeping global changes to leverage restrictions, the industry is also facing an increase in regulatory trade reporting requirements.
Increased compliance burdens have become one of the most significant challenges to the foreign exchange industry. The dramatic increase in regulatory reporting requirements, leverage limitation, and increased oversight mean there is a need for increased resources. Large brokers with more resources such as Charterprime are much better equipped to deal with these challenges than smaller, less prepared brokers. Technology is a critical component in helping the business stay updated with the regulatory changes and helps to implement the necessary controls to meet them. The company has a data-forward approach to compliance, which is especially valuable in identifying and minimizing compliance risks.
During this time of consolidation and increasing competition, the company has always ensured that the trading products are always the best in class. Mr. Mathew Tate says, “We’ve also invested heavily in offering our clients innovative business intelligence tools to assist them in building their own trading business within the Charterprime ecosystem.”
Delivering Innovative Services
The award-winning multi-asset brokerage firm has a strong focus on foreign exchange. The company offers a full suite of currency, commodity, index, metal, and exchange-traded products. The company uses the best breed of technology in order to add new trading products for their clients. Artificial Intelligence (AI) and machine learning were used to develop a trading environment that adapts to the needs of the trader.
Charterprime’s product focus in 2019 has been introducing a range of new exchange index instruments including the India50 and the Russell 2000. The Russell2000 offers immense diversification with exposure to 2000 different U.S. companies in a single instrument, while the India50 provides access to an exciting new market.
Mr. Simon Stephen says, “Our mission is to democratize markets, and provide our clients with as much access as possible to global market opportunities – in a single platform.”
Keeping Customer’s Needs at the Forefront
Consumer demands are always shifting and there has been an increase in communication via non-traditional channels. Clients are more inclined to request support via instant messaging channels like WeChat or Facebook Messenger, instead of a phone call or email. This is especially noticeable in South East Asia where more and more businesses find themselves integrated with the major social platforms to meet client demands.
The company has focused on building a close relationship with clients in its target markets. By making business personal, they engage their clients in a conversation that helps meet their needs. They’ve built a price feed which provides unparalleled security, scale, and stability. It is designed to provide peace of mind and market access with minimal complexity, running in Charterprime’s proven trading environment.
Charterprime is renowned in the industry for having incredibly stable price feeds with great execution and 99.99% uptime. Mr. Tate says, “We view it as absolutely necessary for traders to have a frictionless trading experience – traders need to be able to get a clear picture of the market through our market data and be able to take action instantaneously.”
Gearing Up For the Future
With a wide variety of award-winning services, Charterprime is proceeding with the expansion into new markets across the Asia-Pacific without comprising its quality. The company has always placed a high value on the stability of the product, which reinforces its growth with great customer experiences.
When asked about future plans, Mr. Stephen concludes saying, “We are seeing strong demand for our brokerage services in many countries across the world; however, we need to ensure that we have robust and proven solutions in place prior to engaging with these markets. 2020 will be a year of increasing global access to Charterprime’s trading environment.”
