Platinum Analytics, a FinTech start-up, aims to provide financial institutions with a next-generation FX liquidity platform. The platform will offer a variety of services and tools such as early-warning indicators, risk mitigation, trade optimization in order to reduce transaction costs, and alternative data analytics via artificial intelligence. Platinum Analytics is supported by the Monetary Authority of Singapore (MAS) through the Financial Sector Development Fund to set up an Electronic Trading Platform in Singapore as part of MAS’ plan to make Singapore a global FX price discovery and liquidity centre.
Singapore continues to be at the forefront of the FinTech space and has been a leading regional hub for FX trading. Kelvin Zheng, Platinum Analytics CEO, has said, “Singapore is at the vanguard of the next digital transformation in the FX and commodities markets. It is currently the 3rd largest FX market in the world. Having Singapore as our operational center is a key factor to the success of our platform and our company.”
In the last quarter of 2018, Platinum Analytics has announced it has officially launched its platform in Singapore and is already in progress to onboard its first batch of trial clients. Platinum Analytics currently supports SGD (Singapore Dollar), CNH (Offshore Renminbi), and the usual G7 currencies on its platform. Platinum Analytics is expanding its coverage to instruments beyond FX and moving towards commercializing an SAAS (Software as a Service) based AI Platform, with a focus on analyzing alternative data.
What differentiates Platinum Analytics from other foreign exchange trading platforms that its matching engine is entirely hosted and operated in Singapore. Kelvin Zheng, CEO, has stated that “Having our infrastructure and technology based in Singapore allows us to leverage on Singapore’s strong, trusted and robust infrastructure to connect to to all major markets in Asia in a low latency manner.”
From the technology side, Platinum Analytics prides itself in using revolutionary AI technology to supplement its liquidity offerings. Qihong Bao, Platinum Analytics CTO, remarked, “With the rise of AI, we want to revolutionize trading. Our technology can help our users decrease market risk, liquidity risk, and slippage in the FX market. Currently, this technology is being used by a bank in Singapore.”
Platinum Analytics holds the unique position of bridging the markets between China and the rest of Asia. As such, it is poised to service both onshore Chinese banks and banks in Southeast Asia, and to help them connect with each other more efficiently. Future plans for Platinum Analytics include expanding both geographically and technologically, to better serve a growing market.