Phillip Nova Enhances NDF and FX Swap Trading with Integral Deployment
Singapore’s Phillip Nova has deepened its collaboration with currency technology provider Integral to bolster its non-deliverable forward and foreign exchange swap trading capabilities. The move comes as Asia-Pacific traders drive record demand for NDFs, with cleared volumes hitting $65bn daily and open interest breaching $2tn in September 2024.
Integral’s fixed-fee subscription model allows Phillip Nova to optimize operational costs while scaling to meet volatile trading volumes. The partnership reflects institutional adoption of fintech solutions to navigate restricted-currency markets—a trend mirroring crypto’s infrastructure evolution.