The
regulated digital prime brokerage GCEX Group has expanded its commodities
product line-up with the introduction of eight new spot instruments. According
to the company, it aims to meet rising institutional demand for streamlined
access to physical commodity price movements.
GCEX Broadens Commodities
Offering to Address Institutional Demand
The newly
launched products, Brent Crude Oil, WTI Crude Oil, Henry Hub Natural Gas,
Aluminium, Nickel, Copper, Zinc, and Lead, allow GCEX clients to gain exposure
to the price performance of these commodities without the need for physical
delivery.
The firm claims
it sources pricing from Tier 1 global liquidity providers, ensuring competitive
rates and robust liquidity for professional traders, brokers, and funds
worldwide.
GCEX
clients can access these new instruments through the company’s proprietary
XplorTrader platform or via FIX API integration, catering to diverse trading
setups and operational preferences.
“The
extension of our commodities suite reinforces our commitment to deliver a
market-leading offering across multiple jurisdictions,” Lars Holst, Founder and
CEO of GCEX, commented. “With demand increasing for access to physical
commodity proxies without the operational complexity of delivery, our spot
products provide an efficient, liquid, and secure solution for institutional
clients.”
The
expansion builds on GCEX’s existing commodities CFD portfolio, which already
includes Gold, Coffee, UK Brent Oil, Platinum, and other products.
Earlier this year, the company also expanded its cryptocurrency offering through integration with Fireblocks’ enterprise platform, enhancing its institutional crypto trading capabilities.
GCEX UK Reports £3.8 Million Revenue
The company
recently reported a 64% year-on-year increase in turnover for 2024, reaching
£3.76 million. The firm also narrowed its pre-tax loss to £232,567, down from
the previous year, despite a notable rise in operating costs.
Cost of
sales more than doubled during the year, and administrative expenses rose 24%,
with the increase attributed to intra-group charges, consulting services,
staffing costs, and foreign exchange revaluation impacts.
The revenue
boost was primarily driven by a 315% increase in crypto CFD trading volumes,
reflecting improved sentiment and activity in digital asset markets following a
prolonged downturn. The firm reported stronger revenue momentum beginning in
the fourth quarter, with expectations of continued growth into 2025.
Holst noted
that the growth was mirrored in the firm’s operations in Dubai and Copenhagen,
contributing to what he called “a strong year” for the group.
This article was written by Damian Chmiel at www.financemagnates.com.
