Deutsche Bank to establish e-FX trading hub in Singapore

Maria Nikolova

Deutsche Bank will develop an FX trading and pricing engine onshore, in conjunction with the Monetary Authority of Singapore.

Deutsche Bank has announced that it will set up an electronic foreign exchange hub in Singapore by developing an FX trading and pricing engine onshore, in conjunction with the Monetary Authority of Singapore.

The Singapore e-FX hub is set to provide clients with the ability to execute FX transactions more closely aligned with geographic location, reducing latency, improving on local price transparency and liquidity. The initiative is poised to make the city-state of Singapore Deutsche Bank’s fourth global FX centre, along with New York, London and Tokyo.

Deutsche Bank Head of Fixed Income and Currencies APAC, Head of Corporate Bank APAC and Chief Country Officer, Singapore David Lynne commented:

“Given the substantial increase in demand for Asia currency e-FX we have seen in the past five years, growing client sophistication in e-FX trading, and the MAS’ focus on further developing the leading FX centre in the region, hubbing this activity in Singapore makes perfect sense.”

The Deutsche Bank e-FX hub will be developed and staffed locally, and will be aligned to Deutsche Bank’s focus across e-trading, fintech clients and digital FX payments.

As global cross border payment processes rapidly move towards being completely digital, Deutsche Bank will further develop its Singapore infrastructure to be the payments hub for transactional FX business in APAC. This will enable the bank to offer faster, automated FX and payment processes across the high growth but complex Asia markets, creating a center of excellence to drive digital real time treasury and open banking from Singapore into payment corridors across the region and globally.

With Singapore the Fixed Income and Currencies centre for Deutsche Bank in Asia Pacific, the new e-FX hub forms part of the bank’s continued investment and development into digital and electronic platform client solutions.

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