SGX FX tightens liquidity race with CIBC entry

The new provider ramps up competition in FX options pricing across global markets.

SGX FX has added Canadian Imperial Bank of Commerce (CIBC) as a liquidity provider on its institutional foreign exchange platform, expanding foreign exchange (FX) options liquidity and execution depth, said Singapore Exchange (SGX).

SGX FX said the addition strengthens its institutional liquidity network and improves price formation across major currency pairs, including G10 and selected emerging markets.

CIBC will initially provide liquidity in over-the-counter (OTC) FX options, with plans to expand into OTC cash FX over time.

SGX FX operates an institutional FX platform covering spot FX, non-deliverable forwards, swaps, outright forwards, options and precious metals, with multiple execution channels and electronic connectivity.

It said the onboarding increases competition amongst liquidity providers in FX options and broadens execution choice across trading sessions.

“CIBC strengthens our liquidity network across key markets,” said Scott Gold, Head of Americas at SGX FX, adding that its entry supports improved execution and broader currency coverage.

Christina Wood, Head of Global Electronic FX at CIBC, said: “This collaboration expands access to FX options and global markets for institutional clients.”

SGX FX said it continues to grow its liquidity ecosystem through partnerships with global financial institutions as part of ongoing platform development.

The addition follows recent onboarding activity as SGX FX builds out its institutional FX offering.