The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

War on latency driving banks to put FX engines in Singapore

FX market participants are responding to Singapore’s desire for physical location of matching and pricing engines in the city-state.

singapore-sky-high-780



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.

Standard Chartered Bank’s local infrastructure will support a similar range of trading when it goes live later this quarter.



Matching FX trades in Singapore takes only one-to-two milliseconds for participants based here and in aggregate under 30 milliseconds for participants based in the southeast Asian region - Wong Joo Seng, Spark Systems


In March, Citi announced plans for a pricing and trading engine in Singapore that would initially offer spot trading in 23 currencies, while JPMorgan will also go live with spot trading later this year.








You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree