Where speed counts and talent is non-negotiable

As a veteran FX (foreign exchange) derivative trader, alumnus Mr WONG Joo Seng (Mathematics and Economics, 1987) is acutely aware of the bugbears of FX. In his journey as a fintech (financial technology) entrepreneur, he has focused on formulating solutions to the problems of high speed, high volume trading platforms.

His brainchild, Spark Systems, the third business he has built, is an AI (Artificial Intelligence)-empowered FX trading platform providing an ultra fast, low latency, resilient and cost-effective trading platform for institutional traders in Singapore and beyond. By significantly shaving the costs and time taken to complete a FX transaction in Singapore, Spark Systems has helped to firmly position Singapore on the global FX trading map.

Today, Spark Systems is a recognised player which has won numerous awards and accolades. We speak to Executive Director and CEO Joo Seng on what inspired him to venture into fintech years before it became a buzzword.

Why did you decide to study Mathematics and Economics?

The real-world application of economics in banking and finance is rooted in mathematics. While a firm grounding in economic theory is essential, the practice of economics in finance is inseparable from mathematics. Both were instrumental in preparing me for a career in banking and finance, and subsequently as an entrepreneur.

What is your advice to fresh graduates seeking to excel in entrepreneurship?

To succeed as an entrepreneur, you require more than domain knowledge. For example, one requires an understanding of how companies are run, some basic knowledge of labour laws, tax laws and networking to build relationships. However, you are not called upon to be an expert in all these fields. One just needs to know enough to know when to seek advice when required. In my view, the defining ingredient is the passion. Passion leads to learning, learning leads to excellence and excellence drives success. It means one spends more of one’s time, leisure and resources acquiring knowledge, thinking about things and how to do things better. In so doing, one is fully engaged. One has learnt how to learn and grows to know not just more about a subject but to understand it more intimately as well.

What challenges do you face, especially during the pandemic? 

I worry about the competition for talent, and getting the best people for the job. This is a perennial challenge which is exacerbated by COVID-19. Without the right people on board, you endanger the organisation and risk it becoming uncompetitive.

What talent do you look for?

Interdisciplinary talent is indispensable in the workplace today. I look for those who are not only firmly grounded in academic theory but who can apply knowledge in practical situations. Equally important, employees who bring together knowledge and skills from various disciplines are better-placed to develop a cognitive framework offering integrated insights for understanding and resolving many issues we face today.

Joo Seng shares his plans to revolutionise the FX trading platform here.