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Singapore's UOB uses FlexTrade systems for global FX trading

First Published 3rd September 2013

The Singapore bank said Asian investors are showing increased appetite for electronic trading in the region.

Great Neck, NY - FlexTrade Systems, Inc.said Singapore-based United Overseas Bank Limited (UOB) had chosen MaxxTrader and FlexFX, its white label and enterprise FX trading solutions, to facilitate global FX trading.

FlexTrade, a provider of multi-asset execution and order management systems, said UOB will also implement FlexTQM, a transaction quality management platform for real-time and historical transaction cost analysis.

"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," said Manish Kedia, managing director of FlexTrade Systems Pte. Ltd. in Singapore.

"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."

Low Teck Ngee, UOB's user project manager and head of demand management, global treasury, said it was looking to offer customers an enhanced trading platform to help them better manage global trading and risk.

"As Asian investors grow more affluent and sophisticated, we are seeing an increase in demand for electronic trading in the region," the UOB executive said.