Singapore eFX engine launched by BNP Paribas
(7 January 2020 – Singapore) BNP Paribas is the latest global bank to establish an FX trading platform in Singapore as the city state leverages its envious geographic location to reduce latency in high value FX trading.
The engine offers eFX trading across 50 currency pairs for Spot FX, Forward FX, FX Swaps and Non-Deliverable Forwards (NDFs) and FX Options in addition to commodities electronic trading for metals. The French bank joins UBS, Citi and JPMorgan who have established Singapore as a base for eFX operations.
The Monetary Authority of Singapore (MAS) plans to attract up to eight more global majors, including non-banks and multi-dealer platforms.
“With the delivery of both the e-FX engine and Cortex LIVE in Singapore, clients here will benefit from an unrivalled combination of real-time feedback, quicker and more intelligent trade execution, greater transparency and enhanced controls,” stated BNP Paribas Regional Head of G10 FX Spot Trading, Global Markets, APAC, Rawad Khodr.