Deutsche Bank to Launch e-FX Trading Hub in Singapore


Deutsche Bank, in collaboration with the Monetary Authority of Singapore (MAS), will launch an e-FX trading hub and develop an onshore forex trading and pricing engine in Singapore.

12 June, 2020 | AtoZ Markets – Germany Largest Bank, Deutsche Bank is reportedly launching electronic forex (e-FX) pricing and trading engine hub in Singapore. There is a growing demand for forex trading among institutional investors in Singapore. However, Singapore is a valuable trading hub for Western banks. E-FX trading volumes have grown by double digits over the last five years.

E-FX Trading Hub Will Improve Local Price Transparency and Liquidity

Singapore’s e-FX hub aims to provide customers with the ability to execute FX transactions in geographical locations. It will also reduce wait times and improve local price transparency and liquidity. With this initiative, Singapore will become Deutsche Bank‘s fourth global FX centre, following New York, London and Tokyo. Deutsche Bank Head of Fixed Income David Lynne said:

“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.”

MAS is one step closer to its plans to develop Singapore as the centre of Forex trading in Asia. The regulator is already supporting several initiatives from various global banks trying to set up FX e-trading and pricing engines. MAS’s Executive Director, Financial Markets Development, Ms Gillian Tan said:

“We are heartened by Deutsche Bank’s commitment to build its fourth global FX electronic pricing and trading engine in Singapore, which will complement its APAC fixed income & currencies and global transaction businesses operating here. This will also allow Deutsche Bank to build on its strengths as a key global FX player. It will support its regional clients with enhanced price discovery and execution from Singapore as Asia’s pre-eminent FX centre.”

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