Published On: Mon, Jun 16th, 2014

Phillip Futures Selects FlexTrade For White Label FX & Precious Metal Trading

Manish Kedia, Managing Director of FlexTrade Systems Pte. Ltd. in Singapore

Manish Kedia, Managing Director of FlexTrade Systems Pte. Ltd. in Singapore

FlexTrade Systems, Inc., a global leader in multi-asset execution and order management systems, announced on 16 June that Phillip Futures, a member of PhillipCapital Group , has deployed MaxxTrader, its full STP, white label FX trading system to process client NDFs, spot currencies and precious metals.

“FlexTrade’s multi-bank streaming capabilities add value to our business in Non Deliverable Forwards (NDF), spot currencies and precious metals,” said Joseph Ng, Business Development Director, FOREX/Bullion at Phillip Futures. “Since we are enjoying an interest in demand from clients to trade NDFs, this capability not only provides them with easy execution of trades, but also gives them more competitive prices when they trade with us.”

According to Manish Kedia, Managing Director of FlexTrade Systems Pte. Ltd. in Singapore, it was MaxxTrader’s flexibility that Phillip Futures found appealing. “Handling spot currencies, NDFs and precious metals was a primary facet in their decision, but it wasn’t the only one,” said Kedia. “MaxxTrader also allows them to use two separate aggregators – one in London, the other in Tokyo – to service all the locations of their global business.”

MaxxTrader is a complete turnkey, ASP front-end solution allowing orders to trade directly from client to client, directly with the trading desk, or back-to-back with all liquidity providers. Designed to allow institutions to privately aggregate and issue price information to the markets and clientele, the platform offers real-time prime broker reporting, an integrated OMS to better manage orders, and aggregated liquidity from more than 50 banks, ECNS and exchanges.

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