Standard Chartered to launch FX e-trading and pricing in Singapore

It will allow FX e-trading of over 130 currencies.

Standard Chartered Bank will launch a Foreign Exchange (FX) e-trading and pricing engine in Singapore, with support from the Monetary Authority of Singapore (MAS), by Q1 2020.

The scheme will allow FX e-trading of 130 currencies and more than 5,000 currency pairs in spot, forward, swaps, non-deliverable forwards (NDFs) and options, as well as commodities e-trading for both precious and base metals.

“Singapore continues to be the major FX hub in the world. E-trading take-up rates are very high amongst our clients; we have seen our FX e-trading volumes grow by 40% YoY,” Michele Wee, head of financial markets Singapore, Standard Chartered Bank, said.

“The move is aligned with our goal of enhancing liquidity, price discovery and transparency in Singapore’s FX market by strengthening FX e-trading capabilities and market infrastructure,” Gillian Tan, executive director, financial markets development department, MAS, noted.

Standard Chartered already has existing e-trading engines in London, New York, and Tokyo.

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