Social-trading technology provider ayondo announced today that it is joining forces with Phnom Penh Derivative Exchange Plc (PPDE), a Cambodian SEC-licensed central counterparty, through its indirect UK-based subsidiary ayondo Markets Limited.
In pursuit of its Asian business-to-business strategy, the SGX-listed firm has established a collaboration through a white label agreement. As per the white label stipulations, ayondo will provide PPDE’s client base with fully managed white label services to trade equities, indices, forex and commodities.
To achieve this, PPDE will utilise TradeHub, ayondo’s contract for difference (CFD) trading platform, as the primary executive base for brokers trading CFDs for the Cambodia-based clients of PPDE. The aim of the agreement is, for PPDE, to increase its client’s interests both within and outside of Cambodia, whilst for ayondo, it is product reach expansion.
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Commenting on the agreement, Matt Yang, CEO of PPDE, said: “We are excited to cooperate with ayondo to expand our product offerings to better support our customers. This collaboration will provide global financial derivative trading to our clients and help both companies grow globally.”
Robert Lempka, Executive Director and CEO and co-founder of ayondo, added: “We are excited to be working with PPDE to grow their network of retail and institutional clients within and outside of Cambodia. This growing area of Southeast Asia offers great opportunities as clients continue to cross borders. We are proud to be the platform of choice and happy to create new growth possibilities for both our organizations.”
Ayondo furthers its B2B strategy in Asia
Already, ayondo has inked more than 25 B2B partnership deals in Asia. These range from white label partners to introducing brokers. Earlier this month, Finance Magnates reported that ayondo had entered into a white label agreement with Huanying International. This agreement had a similar set up to the collaboration with PPDE announced today.