SINGAPORE, 23 OCT 2024
Spark Systems Pte. Ltd., a Singapore based fintech and one of the leading providers of high-speed foreign exchange trading technology globally, is proud to announce that it has been awarded the project by Singapore bank OCBC, to deliver its core FX pricing and trading platform.
Under this partnership, Spark will work with OCBC to build a cutting-edge foreign exchange (FX) trading platform designed to enhance OCBC’s pricing and trading capabilities, augment access to market liquidity and enable highly customizable workflows to support its leading position in the competitive FX market.
With a focus on high-speed execution and advanced data analytics, Spark’s algorithmic and quantitative FX trading technology promises to bring unparalleled trading and customer experiences to traders and clients.
The new platform will bring innovative features that enhance liquidity management, reactiveness to market conditions and more intelligent pricing capabilities. The solution is also designed to be both performant and horizontally scalable to support OCBC’s future expansion plans and its clients’ diverse needs across many different channels.
“Delivering significant value to our clients remains our key focus, and we are constantly looking to elevate our sales and trading capabilities to achieve this objective. Given the fast-paced FX market, we are confident that Spark Systems’ technology will shore up our FX trading capabilities and provide targeted solutions for our client needs,” said Mr Kenneth Lai, OCBC’s Head of Global Markets.
“We are excited to partner with OCBC and to provide the bank with Spark System’s state-of-the-art FX trading technology,” said Wong Joo Seng, Founder and CEO of Spark Systems. “This collaboration underscores our commitment to delivering superior & cost efficient trading solutions that meet the evolving needs of financial institutions. The support of a financial banking giant here in Singapore is invaluable to new companies like Spark Systems Pte Ltd and a strong endorsement to our product offering and our team.”
The implementation of the platform is already underway, with an anticipated launch in 2025. Both organizations are committed to ensuring a smooth integration process, prioritizing low latency, cyber security, scalability with enhanced user experience.
ABOUT SPARK SYSTEMS
Founded in 2016, Spark Systems builds next generation high speed trading platforms. Spark Systems has developed robust eFX trading platforms and the company is uniquely designed to support both buy-side and sell-side clients. The firm has to date received investments from leading global and regional institutions including Citibank, HSBC, Philips Venture, Vickers Venture, Integra Ventures, FengHe, Jubilee CM, Farquhar Venture Capital, 5X Capital, OSK etc.
Spark Systems is a grant recipient of Monetary Authority of Singapore FSTI grant. Spark Systems focus is on building state of the art trading technology and infrastructure. The company is connected with all global top 20 FX liquidity providers and eFX non-bank hedge funds as well as major primary markets/ECNs. Today Spark Systems already serves leading banks in Asia. This positions the company for sustained and exponential growth in the FX market; the world largest and most liquid marketplace. For further information on Spark Systems, please visit the company’s website https://www.sparksystems.sg.