$FX

Anyone else seeing a marked increase in KYB friction when onboarding with newer prop firms lately? It feels like the documentation requests have ballooned beyond what's reasonable for a low-touch engagement, especially those without established tier-1 banking relationships. It's not just the volume, but the processing times are lagging. This delays deployment of capital significantly, which eats into potential returns. What's the sweet spot for a firm regarding a good balance between compliance and efficient onboarding? Interested in experiences with firms that nail this without compromising regulatory standards. Also, are we seeing any patterns around specific geographies or asset classes ($FX, $INDICES) where this is particularly prevalent?

Running into some persistent friction lately and wanted to see if anyone else has navigated this successfully. We're an EU-based prop firm looking to diversify our liquidity sources beyond the usual suspects within the EEA. The goal is better pricing and depth, particularly for certain exotics and higher-volume $FX pairs. However, the onboarding process with a couple of non-EU providers (think APAC and LATAM regions) has been a real headache.

Specifically, the KYB requirements are brutal. It feels like a moving target – provide document A, then they ask for document B which contradicts A's intent, then they want certified translations of things that don't even exist in that format in our jurisdiction. The due diligence cycles are extended, communication is often delayed due to time zones, and the lack of a standardized approach across these various providers is making what should be a straightforward integration into a multi-month saga. Anyone found an efficient way to streamline this or perhaps a common pitfall to avoid when dealing with the disparate regulatory landscapes?

Experiencing significant delays recently when trying to onboard with a couple of new prime brokers for increased $FX liquidity. The KYC process is dragging on for weeks, much longer than anticipated, despite having all corporate documentation in order. Wondering if others are seeing this slowdown across the board, or if it's specific to certain regions/firms. It's impacting our ability to diversify order flow.

Running into a persistent issue lately with onboarding new brokers and payment service providers. It seems that many of the Tier 1 institutions, while offering competitive spreads and robust infrastructure once you're in, have incredibly protracted Know Your Business (KYB) processes. I'm not talking about basic due diligence; I'm referring to a seemingly endless loop of document requests, internal compliance reviews, and often, a lack of clear communication on timelines.

For a lean quant firm trying to diversify liquidity or access new markets, this delay translates directly into opportunity cost. We've had instances where it's taken 3-4 months to get an account fully operational, even with all required documentation submitted promptly. It feels like the process is optimized for larger, established funds with dedicated legal and compliance teams, but leaves mid-sized operators in a lurch. Wondering if others in the 'Deal Flow' room have encountered similar bottlenecks or found particular strategies to streamline these onboarding cycles, especially when trying to connect to multiple venues for different asset classes ($FX, $FI, $CRYPTO)? Any insights on which providers might offer a more agile, yet still secure, onboarding experience without sacrificing core infrastructure quality would be appreciated.