As trading volumes for non-deliverable forwards (NDFs) and FX swaps reach new records in Asia-Pacific, multi-asset brokerage firm Phillip Nova has announced an expansion of its partnership with Integral, a global currency technology provider.

The move will see Phillip Nova deploy Integral’s trading solutions across its NDF and FX swap operations, aiming to capitalize on the region’s demand for more sophisticated currency trading instruments.

Asia’s FX NDF Open Interest Breaks $2 Trillion

NDFs allow traders to hedge or speculate on currencies with restricted liquidity. In recent months, the Asia-Pacific region has witnessed a surge in demand for these instruments. Cleared NDFs averaged daily trading volumes exceeding $65 billion, with open interest surpassing $2 trillion for the first time.

The Singapore-based brokerage said the latest phase of its partnership with Integral would help it scale up operations while keeping costs predictable-a key consideration in a market where trading volumes can fluctuate sharply from month to month.

Teyu Che Chern, CEO of Phillip Nova, said the ability to efficiently handle increased trading activity is essential as more clients show interest in NDFs and FX swaps.

“We’ve worked closely with Integral over the years and have seen how their technology helps us respond quickly to market demands,” he said. “With more clients trading NDFs and FX swaps Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Read this Term, it’s important that we continue building on infrastructure that’s both scalable and cost-efficient. Expanding our partnership with Integral lets us handle growing volumes without compromising on performance-and that’s key as we continue to grow our presence in the region.”

Phillip Nova, Integral Target FX Scalability

Integral offers its trading technology through a fixed-fee subscription, a model designed to smooth out operational costs and help firms manage periods of high or unpredictable trading activity.

“Phillip Nova’s decision to expand our partnership is a testament to the confidence our platform instills in brokerages across the world,” said Harpal Sandhu, CEO of Integral. “We have witnessed first-hand how our platform’s fixed-fee pricing can enable brokerages to scale and tap into new audiences, and we are excited to support Phillip Nova as it continues to grow.”

Phillip Nova, which offers trading in FX, CFDs, futures, equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term, and commodities, first adopted Integral’s technology in 2021 to support its FX spot and contract-for-difference business. The brokerage caters to both retail and institutional investors across Asia.

The companies said the expanded partnership aims to keep pace with evolving client needs in a fast-changing FX environment, as more participants turn to NDFs and FX swaps for risk management and speculation.

In February, The Silicon Valley-based currency technology provider secured Access Bank Nigeria as a new client. The institution adopted Integral’s FX solution to enhanced its currency trading capabilities.