Any instrument your clients want. From the LPs you already trust.
Phoenix sits between your trading clients and your liquidity providers — constructing custom instruments from the LP feeds you already have, then hedging every leg automatically. No new venue, no new stack — only the liquidity you already trust.
NEW INSTRUMENTS, ON YOUR CURRENT LIQUIDITY
A client wants an instrument no one else quotes. Phoenix builds it.
A kilo of gold, priced in SGD. No single order book lists it.
Takes two standard feeds, unit-converts them, and builds the synthetic book live.
Sits on your current liquidity, hedged across the LPs you already trust.
What Phoenix adds on top of your aggregator
Institutional-grade. Without the institutional price tag.
Synthetic Depth for Anything You Want to Quote
Show real depth on instruments no one else can quote. We construct multi-level books by crossing the LPs you already connect — every price level genuinely traded, not a nominal headline number.
Every Fill Hedged, Automatically
Hedge every fill without lifting a finger. Each order decomposes into LP legs and hedges automatically — Leg 2 reprices on every partial fill of Leg 1. No drift.
Trade Odd Lots Your LPs Reject
Sell fractional size your LPs won't touch. Each tiny fill is absorbed instantly and warehoused; when enough accumulates, one consolidated hedge fires at the threshold. Fractional trading, solved.
Tailored Pricing Per Client
Run a tailored model for every relationship. Each client gets independent pricing and execution, with your client book fully isolated from your LP book — zero cross-contamination.
From client order to hedged position — in one pass.
Your clients never see your LPs. Your LPs never see your clients.
Built for the instruments your market actually trades
From regional gold conventions to fractional sizes — Phoenix prices what your clients actually trade.
Gold in taels & kilos
Priced in SGD or HKD, based on XAUUSD liquidity — the way regional markets actually quote.
Sub-lot trading
Fractional sizes your LPs won't touch, filled and warehoused until a consolidated hedge fires.
Exotic synthetic crosses
Pairs no single exchange lists, constructed from venue books you already connect to.
Custom conventions
Your settlement, your units, your tick rules — configuration-driven, no code changes.
Why Phoenix over the alternatives
Category by category — without the enterprise price tag or build-your-own burden.
| White-label bundlers | Enterprise platforms | Build in-house | Phoenix | |
|---|---|---|---|---|
| Your LP relationships | Locked to vendor liquidity | Bring your own | Must build and maintain their own connectors — developer-dependent, integration-heavy, costly to maintain | Already supports many connectors, can build more — never a black box |
| Custom instruments | Limited to vendor templates | Possible, expensive change requests | Months to build, years to maintain | Complex custom symbols — priced, executed, and leg-risk managed in real time |
| Time to deploy | Weeks — but only what their stack supports | 6–12 months | 12–18 months | Weeks — on your own stack, your own LPs |
| Cost | Bundled, opaque | $100K+ / year | $500K+ build + team | From $2,500 / month |
| Maintenance | Vendor-controlled | Shared, slow | Your team, forever | We run it — you trade |
See Phoenix on your instruments.
Talk to UsPhoenix + Reflex: the complete engine
Phoenix owns access to liquidity — bridging, construction, routing. Add Reflex and it decides what to do with that liquidity: pricing, market making, and risk.
Ready to price an instrument the market won't?
Talk to us — we'll price one of your actual symbols live: taels, kilos, crosses, or anything custom.