Tradeworks, the Singapore and Copenhagen-based fintech developer of trade automation technology, just announced that it will be extending its partnership with P.T. Monex Investindo Futures (Monex), an online brokerage in Indonesia.
The partnership will grant exclusive rights to Monex as sole distributor and reseller of the Tradeworks trade automation platform for Indonesia until Q2/2018.
Tradeworks has other Far East ties, they raised money from Singapore based strategic investors last April.
Thomas Nyegaard, Head of Tradeworks Singapore said:
The results of our partnership with Monex in terms of attracting new customers and engaging existing customers through rule-based trading have been overwhelmingly positive during our first 10 months of working together and we are very happy to prolong our exclusive relationship with them. Monex have continuously demonstrated the highest professional standards and their strong dedication to offering their customers the best trading technology possible make them the ideal partner for Tradeworks. I am hence looking forwards to the next phase of our partnership with high expectations and great enthusiasm.
Jeffrey Ng, CEO of Monex Investindo Futures P.T. added:
The technological environment in retail FX trading is undergoing rapid change which is reflected in the demands of our customers. We are seeing an increasing shift away from traditional point-and-click trading towards automated trading and we see Tradeworks as the ideal partner to help Monex in filling this demand with their codeless and easy-to-use User-Interface. At Monex, we constantly endeavor to provide a trading edge to our customers and I am happy that Tradeworks is now an integral part of our suite of trading tools. We greatly value the Tradeworks exclusive partnership and look forwards to this next phase of our relationship.