As trading
volumes for non-deliverable forwards (NDFs) and FX swaps reach new records in
Asia-Pacific, multi-asset brokerage firm Phillip Nova has announced an
expansion of its partnership with Integral, a global currency technology
provider.

The move
will see Phillip Nova deploy Integral’s trading solutions across its NDF and FX
swap operations, aiming to capitalize on the region’s demand for more
sophisticated currency trading instruments.

Asia’s FX NDF Open
Interest Breaks $2 Trillion

NDFs allow
traders to hedge or speculate on currencies with restricted liquidity. In
recent months, the Asia-Pacific region has witnessed a surge in demand for
these instruments. Cleared NDFs averaged daily trading volumes exceeding $65
billion, with open interest surpassing $2 trillion for the first time.

The
Singapore-based brokerage said the latest phase of its partnership with
Integral would help it scale up operations while keeping costs predictable-a
key consideration in a market where trading volumes can fluctuate sharply from
month to month.

Teyu Che
Chern, CEO of Phillip Nova, said the ability to efficiently handle increased
trading activity is essential as more clients show interest in NDFs and FX
swaps.

“We’ve
worked closely with Integral over the years and have seen how their technology
helps us respond quickly to market demands,” he said. “With more clients
trading NDFs and FX swaps , it’s important that we continue building on
infrastructure that’s both scalable and cost-efficient. Expanding our
partnership with Integral lets us handle growing volumes without compromising
on performance-and that’s key as we continue to grow our presence in the
region.”

Phillip Nova, Integral
Target FX Scalability

Integral
offers its trading technology through a fixed-fee subscription, a model
designed to smooth out operational costs and help firms manage periods of high
or unpredictable trading activity.

“Phillip
Nova’s decision to expand our partnership is a testament to the confidence our
platform instills in brokerages across the world,” said Harpal Sandhu, CEO of
Integral. “We have witnessed first-hand how our platform’s fixed-fee pricing
can enable brokerages to scale and tap into new audiences, and we are excited
to support Phillip Nova as it continues to grow.”

Phillip
Nova, which offers trading in FX, CFDs, futures, equities , and commodities,
first adopted Integral’s technology in 2021 to support its FX spot and
contract-for-difference business. The brokerage caters to both retail and
institutional investors across Asia.

The
companies said the expanded partnership aims to keep pace with evolving client
needs in a fast-changing FX environment, as more participants turn to NDFs and
FX swaps for risk management and speculation.

In
February, The Silicon Valley-based currency technology provider secured Access
Bank Nigeria as a new client. The institution adopted Integral’s FX solution to
enhanced its currency trading capabilities.