KGI Securities rolls out new eFX pricing in SG1 with MaxxTrader Solution

North American specialist in multi-asset execution and order management systems FlexTrade has been increasing its remit lately.

The company, which has been notable for its opinions and research relating to the buy and sell side institutional FX and electronic trading industry via its blog has continued to keep a toehold in the very upper echelons of execution technology for quite some time, however new partnerships with major venues are a relatively rare occurrance, until today.

This time, FlexTrade has been expanding its presence among institutional non-bank trading entities in South East Asia’s financial centers, the latest being a rollout in Singapore.

Today, the company has completed a deal with its client KGI Securities, which 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.