To judge by the number of FX liquidity providers and execution venues setting up shop in Singapore, the city state’s efforts to establish itself as the premier FX trading centre in Asia appear to be paying off.
An environment that encourages providers to physically locate matching and pricing engines in Singapore is one of the key aspects of the industry transformation map of the Monetary Authority of Singapore (MAS).
And banks have responded.
This month, BNP Paribas said it would introduce an e-FX pricing and trading engine for spot, forward, swaps, non-deliverable forwards (NDFs) and options in Singapore over the next 18 months to capitalize on double-digit annual growth in electronic trading in southeast Asia.
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