Singapore-based Spark System and leading FX Options e-trading platform are collaborating to roll out a technology platform to trade a full list of FX products, such as NDFs, Swaps, Options, Forwards, and Spot.

Spark System has already been in the system, as the company provides cost-effective, low latency, and cutting edge technology for next-generation FX trading platforms.

The collaboration between both firms is in response to the high influx of a group of buy-and-sell-side users who want to gain access to the market via complementary FX trading technology systems.

The collaboration will induce efficiency in the FX market

Both firms believe they have complementary skills and products to drive the expansion of their operational activities.

Spark Systems comes with White Label experience and FX aggregation, while Digital Vega is bringing its experience in developing FX Options technology to the table.

Several financial institutions are looking to increase efficiency in 2021, which is likely going to improve revenue and profit.

Expansion of operational capabilities and the number of users is also on the agenda of most firms in the FX industry.

Spark Systems and Digital Vega are looking for ways to improve performance with more automation in the FX industry. More modern and flexible technology is now replacing rigid platforms to reduce cost and induce efficiency.

Both companies share similar goals

Chief Operating Officer of Spark Systems Jason Wang explained that both firms share a common goal to work together since they are sharing their resources. He further stated that there is an improved level of interest from financial institutions in Asia and other regions for a more efficient trading platform.

Co-Founder and Executive Chairman of Digital Vega Mark Suter commented on the partnership. According to him, the company’s goal is to expand in Asia and other regions with more products to offer users.

He further stated that the company identified synergies with Spark Systems and quickly arranged to have a collaboration to build their network together. “Our services are complimentary and help to address the growing demand for increased trading efficiency,” he concluded.