Become a Bloomberg-like solution for the masses
Fumi Technology connects to data centres around the world to provide real-time, tick by tick market data and cost-effective trading services. It has the goal of becoming a Bloomberg-like solution for the mass market, allowing self-directed Chinese investors to diversify their portfolio by investing offshore.
To fulfil these ambitions, Fumi required a partner who could provide full access to global markets and offer a single point of access from onboarding to funding, trading, custody and reporting.
Challenge: Build or buy brokerage solutions
To achieve its goal of democratising market information and trading access for retail clients via a single application, Fumi faced a choice. It could either partner with a global player or attempt to build its own global brokerage solution.
Had Fumi opted to build, it would have increased its time to market and introduced a major level of complexity to its business. To compete effectively, Fumi would have needed to divert its focus from its main objective and expertise.
Solution: Saxo’s outsourcing solution provided Fumi with a complete trading service within three months
In its efforts to get to market, Fumi partnered with Saxo based on our solutions and expertise. By capitalising on our open banking infrastructure, WeBull could quickly enable fully automated onboarding and add an end-to-end trading service to its own apps.
Our solution enables Fumi to delegate all aspects of its trading services, from onboarding to client authentication, to our technology.
Fumi connects to the Saxo solution via OpenAPI, enabling it to dedicate its time to focusing on its speciality: building solid, technical support.
By connecting to our trading and investment infrastructure, Fumi could provide its end-users with free access to global market information, across stocks, funds, FX, CFDs and commodities. Its app offered centralised access to real-time pricing, events, news and financial analytics.
How Fumi Technology offers on- and offshore investments in one UX/UI via Saxo
Results: A proven solution which enables Fumi to focus on what it does best
Our solution has opened Fumi to global capital markets, while enabling it to continue focusing on its own mission; democratising market information and trading access for retail clients. By connecting to our systems via OpenAPI, we can handle everything from onboarding to execution, while Fumi controls the full user experience itself. To date, the Fumi/Saxo partnership has resulted in significant client growth – with over 1,200 clients onboarded in a single day.
About Fumi Technology
Fumi Technology is a provider of global financial data and trading services. Fumi aims to democratise the distribution of market information and become a Bloomberg-like solution for the masses. Its offering covers five major tradable assets, on more than 30 exchanges, containing more than 100,000 investment vehicles. Fumi builds state-of-the-art apps which provide tick-by-tick, holistic financial markets information.
Find out how Fumi Technology used our front-to-back functionality to expand its product offering
01 Client experience facilitation
- Fumi built its own bespoke apps via OpenAPI
02 Execution and trading services
- Asset classes include FX, CFDs, stocks, bonds, ETFs, mutual funds
- Single cross-margin trading environment to execute orders and manage risk
- Liquidity sourced from 85 venues, multiple Tier 1 banks and ECNs
- Integration of own-flow execution through local memberships
- Market data service
- Real-time position keeping and account management
- Real-time risk and margin monitoring
- Activity log of all trading-related activity
03 Post-trade services
- Reconciliation, settlement and custody
- Automatic overnight financing
- Corporate actions processing and stock transfers
- End-of-day and real-time reporting across front-, middle- and back-office
- Collateral management and reporting
Regulatory reporting services
- Consolidated reports and end-customer statements
- MIFID II transactional reporting
- EMIR reporting
- Compliance reporting across 170 jurisdictions
- Integration of own settlement services and custodian
04 Tech foundation
- End-of-day file transfers for reporting and business intelligence
- OpenAPI services to build bespoke user experiences
- Real-time trade notifications for trade, order notifications and margin call data
Services for white label models with undisclosed end-clients
- Lead registration APIs for premium offerings
- Digital client onboarding with Saxo’s onboarding API
- Dashboard to monitor onboarding status
- Self-directed, advisory and discretionary client set ups
- Real-time back-office platform via WebConnect
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