Hong Kong Forex broker KVB Kunlun Financial Group Ltd (HKG:8077) has just announced the signing of a software licence agreement with Banclogix.
Under the terms of the deal, Banclogix will grant the broker a three-year licence for certain software, which covers client order management, dealing manager, and core trade execution server. The software will enable KVB Kunlun to, inter alia, use the routing service and data integration layer developed by Banclogix, thus enhancing the ForexStar trading platform.
In particular, the broker will be able to distribute trade transactions across multiple servers and to handle large quantities of transactions for its leveraged foreign exchange trading business.
The licence fee payable under the Software Licence Agreement is a one-off payment of HK$3,500,000. No additional fees or charges will be paid for the installation or customisation of the software.
KVB Kunlun is connected to Banclogix, as the latter is a wholly-owned subsidiary of KVB Holdings, which is a substantial shareholder in KVB Kunlun.
To view the full announcement from KVB Kunlun on the software deal, click here.