Legal
Editorial standards
These standards explain how PrimeBrokerLiquidity writes, sources and reviews the content on this website. Our subject matter — FX and institutional liquidity, execution models, market structure and the regimes that govern licensed firms — is technical and consequential, so we hold what we publish to a deliberate standard: accurate, attributable, and clearly educational rather than advice.
Last updated: 8 August 2026
Educational, not personalised advice
Everything we publish is general and educational. It explains how institutional liquidity works in principle — Prime of Prime intermediation, aggregation, credit, straight-through processing, execution models such as A-book, B-book and hybrid routing, and the connectivity that carries pricing to a trading platform. It is not investment, financial, legal, tax, accounting or regulatory advice, and it is not tailored to any reader's circumstances or to any firm's permissions.
PrimeBrokerLiquidity ("PBL") deals with institutional and professional counterparties only. It is not a registered broker-dealer, investment adviser or retail-facing intermediary, and it does not hold client money or client accounts. Nothing we publish should be read as a substitute for advice from qualified counsel or compliance advisers in the relevant jurisdiction, or as a representation that any firm may carry on a regulated activity for which it is not authorised. Our full position is set out in our disclosures.
How regulatory statements are sourced and attributed
Where we describe rules, regimes or supervisory expectations, we attribute them to the bodies that set them — for example the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), the Monetary Authority of Singapore (MAS), the Securities and Futures Commission (SFC), the Financial Services Agency of Japan (JFSA), and the Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA) in the United States — and we describe them in general terms.
These frameworks are complex, they change, and they apply differently to each firm and each set of facts. We therefore describe requirements qualitatively where precision is uncertain, we avoid stating capital thresholds, leverage caps or licence conditions as though they were settled and universal, and we tell readers to confirm current requirements with the regulator or with qualified local counsel rather than relying on a figure on a web page.
Our country pages are written to the same rule. They describe the market and the regime a licensed firm operates under; they do not describe PBL's own permissions, and they are not a representation that PBL holds a licence anywhere. Where a page names a regulator, it does so to explain the environment a client firm works in, not to imply supervision, membership, endorsement or affiliation.
Figures, market data and illustrative examples
Market data is attributed to its source and dated where the source is dated — for example, aggregate FX turnover figures drawn from the Bank for International Settlements Triennial Survey. We do not invent statistics, and we do not present a number without being able to say where it came from.
Descriptions of spreads, depth, latency, fill rates, uptime or commercial terms are structural and illustrative. They explain how a service model works; they are not quotes, benchmarks, guarantees or performance claims, and they are labelled as illustrative where there is any risk of them being read as a commitment. Actual pricing and execution depend on prevailing market conditions, the underlying liquidity sources and the terms agreed with a counterparty. We do not publish performance records, and we do not imply that any outcome is assured.
No fabricated credentials or claims
We do not publish fabricated credentials, qualifications, awards, memberships, certifications, client names, testimonials, case studies or statistics. We do not imply regulatory status, authorisation, registration or membership that PBL does not hold, and we do not describe ourselves as supervised by, approved by or affiliated with any regulator, exchange or bank. Where we name banks, venues, platforms, regulators or technology providers, we do so descriptively; those names are the trademarks of their owners and their use implies no endorsement or affiliation.
We do not name counterparties or describe client relationships without authorisation. Where we describe our capabilities, we describe the firm's actual role as a wholesale liquidity and technology provider sitting behind licensed firms — not as a licensed intermediary in any market.
Authorship and review
Content on this site is written and reviewed within the firm. Substantive articles are attributed to the desk lead responsible for the subject area — liquidity, execution and markets, or technology and connectivity — whose roles are set out on our about page, and material is reviewed before publication for technical accuracy, for correct attribution of regulatory statements, and for compliance with these standards. Bylines identify the person responsible for the content rather than a generic house name.
Responsibility for everything published here rests with the firm. Where a page states a "last updated" date, that date reflects when the content was last reviewed or revised.
Use of AI tools
We may use AI tools to assist with drafting, editing, research organisation and formatting. AI-assisted drafts are not published as they come out of a tool. Material is reviewed and edited by a person before it goes live, regulatory descriptions are checked against the relevant regulator's own material, figures are checked against their cited source, and the text is checked for fabricated facts, invented citations and claims we cannot stand behind. Responsibility for published content rests with the firm, not with any tool.
Corrections
Rules change, market structure moves and errors happen. If you believe something on this site is inaccurate, out of date or misleading, please write to info@primebrokerliquidity.com. We review credible reports promptly and correct or update the content where warranted. Substantive corrections are reflected in the "last updated" date on the relevant page, and where a correction changes the meaning of a published statement we say so rather than editing silently.
This page describes our editorial process. It is general information about institutional liquidity and market structure and is not investment, legal, tax or regulatory advice, nor an offer or solicitation. Services are available to institutional and professional counterparties only. See our disclosures and terms of use.