iS Prime’s Founders Return with a New Liquidity Business for Brokers

Three former iS Prime executives launched JT Prime, a prime-of-prime liquidity business for brokers and funds, today (Tuesday). Raj Sitlani and Jonathan Brewer, who co-founded iS Prime in 2014, set it up with Jeff Wilkins, who ran iS Prime's risk analytics arm.

JT Prime is the institutional arm of JT Markets, a retail CFD broker on MetaTrader 5 that was established in 2024 and is licensed by the Seychelles Financial Services Authority (FSA). Wilkins joined JT Markets as a partner in March after nearly a decade at iSAM Securities.

Their former company has shrunk since the founders left. iSAM Securities (UK), as iS Prime is now called, reported turnover of £19.56 million for the year to June 2025, against £35 million in the year to June 2022.

London's trading industry is coming home!

The Firm They Left Behind

Sitlani and Brewer left iS Prime in January 2023, eight years after starting it with the systematic hedge fund manager iSAM. Both had earlier held senior electronic FX roles at Goldman Sachs, according to the statement.

Brewer joined GCEX as chief revenue officer in 2024, working on institutional and professional clients at the London-based FX and crypto liquidity provider. Wilkins stayed at iSAM until this year.

He was managing director of iS Risk Analytics, the broker risk business iS Prime built in 2017 from assets bought from Think Liquidity. He was later co-head of eTrading.

Pre-tax profit at iSAM Securities (UK) fell to £4.5 million in the year to June 2025 from £16.2 million three years earlier. Turnover dropped 44% between those two fiscal years, by FinanceMagnates.com's calculation.

Sitlani, JT Prime's non-executive chairman, said the founders see "a clear opportunity for a boutique, best-of-breed provider."

iSAM has also been building software for brokers. In October it added four features to Radar, its broker risk platform, including alerts for traders hedging across several brokers.

License Pending, Digital Assets Next

JT Prime offers aggregated Tier 1 bank and non-bank liquidity in FX, precious metals and index CFDs, with FIX API connectivity, the company said. Its clients are meant to be brokers, funds, family offices and proprietary trading firms, served from North America, Europe and Asia.

For now the JT Markets license comes from the Seychelles FSA, one of 12 regulators whose registers FM Intelligence's license and registration monitor tracks. A license application in a major Western market is pending, the company said.

Brewer said JT Prime would run "a clean, agency-style execution model that aligns our interests with theirs." He added that it would be selective about the clients it takes on.

JT Prime plans to add digital assets to its FX and commodities range and already accepts payment in crypto. It also offers institutional clients a white-label education platform.