Phillip Nova Expands Partnership with Integral to Boost NDF and FX Swap Trading

Brokerage firm Phillip Nova is expanding its collaboration with technology provider Integral. The increased partnership is aimed at enhancing Phillip Nova's non-deliverable forward (NDF) and foreign exchange (FX) swap trading operations. This move occurs as interest in NDFs continues to grow, particularly within the Asia-Pacific region.

NDFs are described as forward contracts that allow traders to engage with currencies that may be difficult to access due to liquidity restrictions. According to industry data from late 2024, cleared NDF trading volumes exceeded $65 billion daily, with open interest surpassing the $2 trillion mark for the first time.

Phillip Nova intends to utilize Integral's platform to support these increasing volumes. The firm is leveraging Integral's fixed-fee pricing model, which is designed to help manage operational costs more predictably, a feature highlighted as particularly useful in volatile markets. The two companies have been working together since 2021, when Phillip Nova initially adopted Integral's platform to support its FX spot and CFD trading activities.

Teyu Che Chern, CEO of Phillip Nova, commented on the expanded collaboration: "We've worked closely with Integral over the years and have seen how their technology helps us respond quickly to market demands. 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."

Harpal Sandhu, CEO of Integral, added: "Phillip Nova's move to expand our partnership is a testament to the confidence our platform instills in brokerages across the world." He also stated, "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, innovate, and expand its footprint."

Phillip Nova offers a variety of trading services across FX, futures, commodities, CFDs, and equities, serving both retail and institutional clients throughout the Asia-Pacific region. Integral's fixed subscription pricing model is presented as offering cost advantages by preventing expenses from increasing directly with trade volumes. This approach is intended to allow Phillip Nova to scale efficiently while focusing resources on customer growth and service enhancements.