FlexTrade Systems, an FX enterprise solutions provider, offering multi-asset execution and order management systems, announced today that Phillip Futures, Singapore’s largest retail broker and member of the giant financial services firm PhillipCapital Group, has deployed MaxxTrader, its STP, white label FX trading system to process client Non Deliverable Forwards (NDFs), spot currencies and precious metals.
Headquartered in Great Neck, New York, FlexTrade has a worldwide clientele of more than 175 buy and sell-side firms. Its platform, MaxxTrader, is a turnkey front-end solution allowing orders to trade from client to client, directly with the trading desk, or back-to-back with all liquidity providers. Designed to allow institutions to privately aggregate, the platform offers real-time prime broker aggregated liquidity from more than 50 banks, ECNS and exchanges.
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Joseph Ng, Business Development Director, FOREX/Bullion at Phillip Futures, commented on the announcement: “FlexTrade’s multi-bank streaming capabilities add value to our business in NDF, spot currencies and precious metals. 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 in Singapore, it was MaxxTrader’s diversity that convinced Phillip Futures to choose the platform. He said: “Handling spot currencies, NDFs and precious metals was a primary facet in their decision, but it wasn’t the only one. 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.”