Backpack Announces Partnership with CFH Clearing

Backpack, a Singapore-based company providing back office CRM services, has announced a partnership with prime of prime brokerage CFH Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term. The collaboration is aimed at providing brokers with an integrated solution this is providing brokers with an end-to-end solution.

The London Summit 2017 is coming, get involved!

The partnership which Backpack has entered into will allow clients easy, quick, and cost effective access to the tools that brokers require, including Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term from top tier banks and non-bank entities, CRM solutions, back office systems, reporting, business intelligence tools, and more.

This new model will be a one stop shop that will offer a time effective solution that a combination of systems from different suppliers cannot deliver. Backpack is focusing its offering on the rapidly growing APAC region, where the online brokerage industry has been growing particularly fast in recent years.

Yoni Avital, founder and CEO of Backpack and co-founder of Tradesmarter Holdings, said: “Our partnership with CFH Clearing is a true game changer for existing and new B2B customers. It allows them to launch their brokerages far faster than ever before and at a lower cost. Clients will no longer need to search for separate back-office components such as CRM, payment aggregators, onboarding registration, ID verification (KYC, AML), 360 reporting and business intelligence tools."

"They will also no longer need to involve system integrators to connect the solutions together. With the use of our smart widgets system, setting up and running a complete brokerage solution has never been easier. By partnering with CFH Clearing, with its market leading liquidity and wide choice of trading platforms, we have created a very attractive and scalable offering – providing brokers with a complete and competitive solution,” Avital elaborates.