Recently, BornTec implemented its CrossCheck FIX Hub and data software solution for PhillipCapital UK. This implementation, along with other technology integrations, are part of PhillipCapital UK’s strategy to continue building out its institutional tech infrastructure and pushing towards becoming the UK gateway to the Asian markets.
As a way to provide more information to their audiences, BornTec CEO Derek Haworth and Jon Regan, CEO of PhillipCapital UK, recently discussed how the two companies complement each other and the benefits that PhillipCapital UK clients will see. The highlights of their conversation are below:
Derek: Jon, I’m glad we could get together today and chat through this new working relationship. Can you start us off by giving a brief description of PhillipCapital UK?
Jon: Likewise. PhillipCapital UK is a London-based member of the PhillipCapital group of companies, headquartered in Singapore. We are a full-service broker offering a full range of services to retail, HNWI, family office, corporate, and institutional clients. PhillipCapital provides our clients with execution and clearing services across a variety of asset classes including exchange-traded futures and options, base metals, FX, and CFDs.
Derek: What brought you and your team to BornTec and our software solutions?
Jon: We were looking for a vendor that could become a long-term partner as we continue our technology infrastructure buildout. PhillipCapital is a technology-focused firm and BornTec was identified as a company that could keep pace with our growing and changing technical needs. We were also looking for a vendor with the agility that our customers demand in order to deliver on short notice.
Derek: We quickly recognized that the integration agility and flexibility you require are an ideal match for our technology stack. As we have all come to find, the future of our businesses is real-time hyper-connectedness, and consequently, if you can’t integrate, you can’t innovate. Our centralized hub for normalizing and distributing real-time post-trade data enables the speed of delivery that you and your customers require. Plugging new applications or customers into the data hub will be seamless.
In your view, why is now the right time to join together? How will this implementation help streamline processes for PhillipCapital UK and its clients?
Jon: PhillipCapital UK has recently undertaken several initiatives to build out our infrastructure, invest in technology, and grow our product and services offerings. Of course, this is all with an eye to servicing our customers in a more effective way and providing them with best-in-class solutions. We believe that our technology offering, combined with our Asian market coverage through our parent company, Phillip Capital Pte Ltd., gives us a strategic advantage in the institutional space.
Jon: Speaking of the space, I know you guys keep a close eye on industry trends. I’d be curious to hear about some of the trends you are seeing in the industry right now.
Derek: I think the pace of regulatory enforcement will definitely continue, and probably accelerate, in the coming years. We see this happening today from traditional oversight bodies such as the CFTC and FCA, but we’ve also seen a marked increase in exchange-issued fines and enforcement actions. There’s also the continued trend of vendor consolidation at banks and brokerage houses. And then lastly I’d note that we are seeing a strong interest in the area of post-trade data analysis and monetization. We’ll certainly keep watching to see how these trends pan out.
What’s the future looking like for your team in the UK and as a whole?
Jon: Our main focus now and in the near future is to continue to grow the business — particularly on the institutional side — and the CrossCheck solution is surely playing a major role in that.
Derek: And, we’re thrilled to be a part of that journey, Jon. Thanks for taking the time to chat today. Looking forward to many more of these!
Jon: The feeling is mutual, Derek. Yes, a great chat and a bright future ahead of us.
To learn more about PhillipCapital UK, please visit https://www.phillipcapitaluk.com/.