Singapore-based United Overseas Bank (UOB) has selected FlexTrade Systems’s MaxxTrader and FlexFX as its white label and enterprise FX trading technologies, with an aim to boost FX trading across the globe.
Under the contract, the lender has also decided to tap FlexTQM, FlexTrade’s comprehensive transaction quality management platform for real-time and historical transaction cost analysis.
The implementation of MaxxTrader, FlexFX and FlexTQM will enable the bank to cover the full trading life cycle, such as price construction, distribution, trade execution, hedging, position management and post trade analysis.
FlexTrade Systems Singapore managing director Manish Kedia said, "By using FlexFX, MaxxTrader and FlexTQM as a comprehensive solution, UOB will be able to successfully facilitate and navigate trading in the global currency markets.
"MaxxTrader will serve as the aggregation and distribution platform to UOB’s global branches while FlexFX and FlexTQM will be used for market making, auto hedging and transaction cost analysis, respectively."
Due to growing demand for electronic trading in the region, the bank has leveraged FlexTrade’s technologies to deliver its customers an enhanced FX trading platform for better global FX trading and risk management.
Incorporated in 1935, UOB manages a global network of over 500 bank branches across 19 nations and regions in Asia Pacific, Western Europe and North America.