RBC Capital Markets is launching a new e-FX server and pricing engine in Singapore, developed with the support from the Monetary Authority of Singapore (MAS).
The new platform is set to launch to global clients scheduled in December 2021, and will provide those who currently rely on pricing engines based in London with speedier execution, access to greater liquidity and enhanced price discovery across both G10 and emerging markets currencies in the Asian trading hours, RBC said.
«Our investment demonstrates our commitment to the region and participating in the growth of the broader FX market,» Rod Ireland, RBC head of global markets, APAC, said.
RBC Capital Markets provides liquidity across 30 major and emerging markets currencies, with FX products available for execution on its proprietary RBC DX or RBC API trading platforms, as well as on multi-bank platforms across global FX markets.
FX Trading Hub
Singapore is the largest FX trading centre in Asia and the third largest globally, and the city-state aims to be the top FX trading center in Asia Pacific, under the MAS' FX Trading Hub strategy.
Firms like Northern Trust, Macquarie, Barclays, J.P. Morgan, Standard Chartered, UBS, Citi, BNP Paribas, Euronext, Jump Trading and XTX Markets have already built their own regional trading infrastructure here.
