Singapore FX market riding high on world events

The southeast Asian FX market is on fire and it is set to get a further boost thanks to a combination of political and economic turbulence, a regulator committed to facilitating infrastructure investment and increased interest from non-bank market makers.

In June, the Singapore Exchange (SGX) recorded unprecedented levels of forex futures trading, while Investment Trends’ 2017 Singapore contracts for difference (CFD) and FX report refers to a 7% increase in the number of active CFD/FX traders last year compared with 2016.

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Jeff Ward,
NEX Markets

Jeff Ward, global head of non-deliverable forwards and forwards, and head of FX Asia at NEX Markets, observes that a number of geopolitical and macro-economic events have driven currency volumes on the SGX.

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