Phillip Futures Selects FlexTrade for White Label FX & Precious Metal Trading
GREAT NECK, NY, June 16, 2014 – FlexTrade Systems, Inc., a global leader in multi-asset execution and order management systems, today announced 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.
About Phillip Futures
Phillip Futures was inaugurated in 1983 as a member of PhillipCapital Group and is one of the founding clearing members of Singapore Exchange Derivatives Trading (SGX-DT). Phillip Futures holds the CMS licence issued by Monetary Authority of Singapore (MAS). With more than 20 years of experience specialising in global derivatives, the brokerage has grown to become one of the region’s top local brokerages and are constantly ranked among the top most active SGX-DT members. It is a gateway into more than 17 global exchanges with enhanced direct-hub access, offering a large selection of trading products from futures, precious metals, options, currencies and commodities to meet clients’ investment needs.
About FlexTrade Systems, Inc.
Founded in 1996, FlexTrade Systems Inc. is the industry pioneer in broker-neutral algorithmic trading platforms for equities, foreign exchange and listed derivatives. With offices in North America, Europe and Asia, FlexTrade has a worldwide client base spanning more than 175 buy- and sell-side firms, including many of the largest investment banks, hedge funds, asset managers, commodity trading advisors and institutional brokers. For more information, visit FlexTrade Systems at www.flextrade.com or follow news of the company on Twitter at www.twitter.com/flextrade or LinkedIn at http://www.linkedin.com/company/flextrade?trk=top_nav_home.