The Singapore FX trading hub will be Macquarie’s third globally, following the establishment of infrastructure in London and New York.
Australian investment bank and asset manager Macquarie will offer better price discovery and trade execution quality to its clients in the Asia Pacific region with its new Asia FX pricing engine, which is expected to be launched in Q1 2021, the firm announced in a statement.
According to the firm, locally hosted liquidity will allow customers optimal access to various developed and emerging regional markets including Australia, Singapore, Japan, China, Taiwan, Korea and India.
The APAC pricing hub is an extension of Macquarie Commodities and Global Markets' digital trading platform Aurora, which allows clients real-time access to Macquarie’s suite of products and services.
FX Trading Center
Firms like Barclays, J.P. Morgan, Standard Chartered, UBS, Citi, BNP Paribas, Euronext, Jump Trading and XTX Markets have built their own regional trading infrastructure in the city-state, under the Monetary Authority of Singapore’s (MAS) FX Trading Hub strategy, which aims to cement Singapore as the top FX trading center in Asia Pacific.
Macquarie's FX pricing hub will «strengthen Singapore’s proposition as a global FX price discovery and liquidity centre, as more buy-side players base their e-trading infrastructure in Singapore to better connect with regional markets,» Lim Cheng Khai, MAS executive director, financial markets development, said in the statement.
