Deutsche Bank has announced that it has completed its first set of live trades on its electronic foreign exchange (e-FX) hub, based in SG1. The e-FX hub, which was developed in partnership with the Monetary Authority of Singapore (MAS), enables Deutsche Bank’s clients to execute FX transactions more closely aligned to geographic location, helping make trade execution times faster.
Head of APAC G10 FX Lee Merchant said: “Asia Pacific is a prime example of the ongoing decentralisation that is happening in the FX marketplace globally. We’ve set out to create a low latency trading environment so that our clients can benefit from localized price distribution and consumption, leading to improved execution results and performance of roughly 90 milliseconds, for clients in Singapore. The investment in our platform in Singapore significantly enhances Deutsche Bank’s market-leading electronic FX offering, and nicely complements our other global FX trading hubs in New York, London, and Tokyo.” John Zeng, Head of E-Trading FIC APAC said: “We are very excited to launch an additional e-FX pricing engine in Singapore. The latest expansion of electronic pricing capacity continues to strengthen our Emerging Market currencies and NDF trading platform by offering clients enhanced execution experience both in terms of transaction latency and quality of liquidity. With Singapore growing as a major liquidity hub during the Time Zone, the investment reaffirms Deutsche bank’s strong commitment to the region and our endless pursuit to deliver the best-in-class solution to our clients.”