Platinum Analytics is a Singapore-based software company that builds custom FX trading software for banks and financial institutions, primarily in Asia. The core product suite covers the full FX trade lifecycle, including a pricing engine, order management system, autohedger, and an AI analytics layer built on proprietary machine learning models. Platinum Analytics sells its software through bespoke project-based development contracts with banks, billing against milestones and then earning recurring annual maintenance fees post-deployment. The business is highly concentrated: OCBC accounted for roughly 85% of FY25 revenue, and Sumscope accounted for about 12%. Because revenue is project-based rather than subscription-based, it tends to be lumpy and dependent on winning and retaining a small number of large bank clients. The cost structure is equally concentrated — Shanghai Borui Finance Information, a related-party vendor controlled by the CEO, accounted for 88% of supplier spend in FY25, making it the dominant delivery partner. Platinum Analytics also operates a small ECN spot FX trading platform for institutional clients, though this contributes negligible revenue. The company is pursuing geographic expansion into London and New York, product expansion into commodities and fixed income, and is investing in AI/ML capabilities. In FY25, Platinum Analytics began direct marketing for the first time, signaling a shift away from purely referral-driven sales.