KGI Securities (Singapore) rolls out new eFX pricing in SG1 with MaxxTrader Solution
SINGAPORE, October 13, 2020 – FlexTrade Systems (@FlexTrade), a global leader in multi-asset execution and order management systems, announces its client KGI Securities will launch the KGI MaxxTrader’s electronic foreign exchange (FX) pricing and trading engine in Singapore.
KGI Securities has made this launch in support of the Monetary Authority of Singapore’s (MAS) vision for Singapore to connect global markets, support Asia’s development, and serve the economy. The pricing engine is expected to go live in the last quarter of 2020. This platform will help Singapore make a headway in its efforts to develop into a global price discovery and liquidity center for FX during Asia trading hours.
The new engine will offer e-FX trading for all the products KGI offers to the client globally such as FX spot, forward, swaps, NDFs, Metals and CFDs with orders getting matched locally at SG1.
Ken Ong, Head of Financial Market Services, Director at KGI Securities (Singapore) said: “We have seen our e-FX trading volumes grow exponentially over the years. With the new electronic FX Hub, our clients can gain better access to liquidity, more efficient price discovery and faster trade execution.” Ong added: “Working on this initiative accentuates Singapore’s focus on improving market efficiency and growth in the region.”
Manish Kedia, Managing Director & Global Head of FX Business at FlexTrade Systems stated: “We are delighted to extend our offering to KGI with our fully hosted MaxxTrader White Label solutions for FX, Metals and CFDs from the SG1 data center in Singapore. This allows their solution to be more comprehensive by covering all the major FX locations globally.”
Vinay Trivedi, Senior Vice President – Strategic Initiatives & Head of FX Sales, APAC at FlexTrade Systems added: “Flextrade has been hosting Banks, Hedge-Funds and Broker dealers in SG1 for years with cross-connects to all the LPs with a local presence in SG1, and allows the clients to take advantage of the MaxxTrader eco-system in SG1.”
The KGI MaxxTrader SG1 engine is currently undergoing end-to-end regression testing with a production go-live target set for mid-October this year.
MaxxTrader is a comprehensive White Label solution offering Desktop, Web and Mobile apps, along with distribution on the FIX API and integration with all the major distribution channels. It covers an end-to-end workflow that includes Aggregation, Price creation, Distribution, Order Management, Margin Engine, Risk Management and Auto-hedging strategies. It has an out-of-the box Algo suite such as TWAP, VWAP and Basket trading, that can be used internally and offered directly to clients. The solution is hosted out of NY4, LD4, TY3 and SG1 data centers to ensure the low latency access to market markers for order matching and execution. For more information on MaxxTrader, please visit here.
About KGI Securities (Singapore) Pte. Ltd.
KGI Securities (Singapore) is a pioneer Securities & Derivatives, Trading and Clearing Member of Singapore Exchange as well as a pioneer member of ICE Futures Singapore & ICE Clear Singapore. We offer our valued clients round the clock (24 hour) single-touch point for multi-asset clients and 24 hour high-touch desk for global products. We are supported by our strong parentage – KGI Securities Co. Ltd., which is the second largest securities firm in Taiwan in terms of market share of the brokerage business and a wholly owned securities arm of TWSE-listed China Development Financial Holding Corporation.
KGI Securities (Singapore) Pte. Ltd.
4 Shenton Way #13-01, SGX Centre 2, Singapore 068807.