Finance Feeds logo

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.

Subscribe

Read this next

Fintech

TNS brings full-stack market data management to EMEA

“We are also delighted to have Ben Myers join our London-based TNS Financial Markets team as Head of Strategic Sales for EMEA, to bolster our presence in the region.”

Chainwire

Velocity Labs and Ramp Network facilitate fiat to crypto onramp on Polkadot via Asset Hub support

Velocity Labs is proud to announce a fiat to crypto onramp using Ramp Network through the integration of Asset Hub. Through it, Ramp will be able to service any parachain in the Polkadot ecosystem.

Symbol of Ramp network
Executive Moves

INFINOX hires Mayne Ayliffe as Global Head of HR

“I look forward to working with our teams around the world to develop a strategic HR agenda that supports high performance and is centred on human motivation.”

Mayne Ayliffe joins INFINOX
Fintech

Sterling to provide risk and margin support for fixed income

“Firms must have the tools to effectively manage their risk across all asset classes. As yields rise, we see more exposure from clients in the fixed income space. We understand their need to measure and mitigate risk in a highly regulated environment.”

Retail FX

FXOpen launches HK share CFDs: Tencent, Alibaba, Xiaomi, Baidu

Hong Kong share CFDs will be commission-free for a limited period of time.

Retail FX

IronFX Celebrates an Award-Winning Start to 2024 with a Series of Industry Recognitions

IronFX, a global leader in online trading, has embarked on 2024 with a spectacular display of accolades that highlight its commitment to excellence and innovation in the competitive financial services sector.

Industry News

FIA urges CFTC to regulate use cases rather than AI itself

“We urge the CFTC to refrain from crafting new regulations that generally regulate AI because this approach presents certain well-known pitfalls. By approaching the issue from the perspective of AI as a technology, rather than the use case for the technology, corresponding regulations would likely necessitate a definition of AI. We anticipate that any attempt to properly define AI would be very challenging and require considerable resources.”

Education, Inside View

The Power of Public Relations in Finance: Shaping Perceptions & Building Reputation

It’s safe to say that the finance industry has faced its share of reputation crises over the years, from the 2008 financial collapse to the many scandals around irresponsible lending, political corruption, and even Ponzi schemes. 

Journalists interviewing a man with blue and red microphone
Digital Assets

Crossover’s crypto ECN executed over $3 billion in Q1 2024

“Our growth is also driving continued increases in the percentages of trades that are ‘Order Crossing Order’ (OXO). Currently, roughly 10% of all trades executed on CROSSx are OXO, another differentiator in our platform’s capacity. This capacity and our unique execution model provide value to both the market maker and taker, as evidenced by our commercial model.”

<
✖