Banking News

UOB Partners Chronicle Software for eFX Engine

UOB Partners Chronicle Software for eFX Engine

(3 June 2021 – Singapore) UOB will be deploying Chronicle Software’s (Chronicle) EFX solution for its electronic foreign exchange (FX) pricing and trade engine.

This allows UOB to take advantage of reduced latency via co-location connectivity to improve price discovery and to enhance pricing capability. The Bank will be able to provide access to more competitive FX pricing to its customers in ASEAN and across its global network.

“Through our new electronic FX pricing and trade engine, UOB is well-positioned to help our customers seize opportunities arising from the strong institutional FX flows in Asia and Singapore’s status as a fast-growing FX trading hub,” said UOB Head of Group Global Markets Leslie Foo.

“Our collaboration with Chronicle combines their technological capabilities with UOB’s deep understanding of our customers’ FX trading needs. Using Chronicle’s solution as the building blocks, we will continue to deepen our capabilities to provide our customers with faster access to global FX markets,” Foo added.

Pricing competitiveness is definitely one of the most important service factors affecting businesses’ level of satisfaction with their FX providers, according to the latest Asian Business Foreign Exchange Markets (ABFX) research by East & Partners. This is, however, just one piece of the puzzle. Oftentimes customers are looking for Value for Money – balancing between getting quality FX service and keeping perceived cost reasonable.

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