Group Co.
XTX Markets Sets Up FX Trading Engine in Singapore
Traders Magazine Online News, June 7, 2018
As part of its expansion in the Asian FX markets, XTX Markets’ Singapore entity (XTX Markets Pte. Ltd. (XTX)) is building a new electronic foreign exchange (eFX) pricing and trading engine which will go live in Equinix’s Singapore SG1 data centre in June 2018.
XTX believes that this SG1 build-out will enhance the eFX trading experience for XTX’s counterparties in the region and in turn, help increase participation rates and volumes for eFX activity conducted within Singapore to benefit the regional FX market ecosystem.
Wai Kin Chan of XTX commented: 'We are delighted to be supported by MAS with regard to our regional trading infrastructure in Singapore and look forward to working closely with our key counterparties in its design, development and implementation. With Singapore being the largest FX centre in Asia, we see huge potential in the Asian FX market as the uptake in electronic trading and increase in Spot & NDF currencies traded in the region continues.'
Alan Yeo, Executive Director, Monetary Authority of Singapore (MAS) said, “Under the Financial Services industry transformation map (“ITM”) introduced in October 2017, MAS aims to enhance the e-FX trading infrastructure to improve market transparency and facilitate price discovery of FX trading in the Asian time zone. XTX, as the first liquidity provider to set up an FX trading engine in Singapore following our ITM initiative, is an affirmation of our eFX vision and we will continue to work with other global liquidity providers and platforms to grow the ecosystem in Singapore for Asia.”
For more information on related topics, visit the following channels:
Comments (0)