TP ICAP Group has announced that it will launch an electronic FX trading platform in Singapore, with support from the Monetary Authority of Singapore (“MAS”). The platform, which will use TP ICAP’s award-winning Fusion interface, will initially offer trading in Asian 1 Month Non-Deliverable Forwards (NDF) and will be expanded to include FX Forwards and additional tenors in Asian NDFs. The launch is aligned with MAS’ strategy to strengthen Singapore’s standing as a major trading and corporate treasury hub, which will be furthered by TP ICAP’s industry-leading global broking business and client network. Nicolas Breteau, CEO of TP ICAP, said: “TP ICAP’s decision to locate a Fusion FX platform in Singapore is an important part of our strategy to enable our clients to trade electronically and access our deep, global liquidity pools. Singapore is the third largest FX trading centre globally and the largest in Asia, and we believe that it will continue to grow.” Lim Cheng Khai, Executive Director, Financial Markets Development Department of MAS, said: “MAS welcomes the launch of TP ICAP’s electronic Fusion FX trading platform in Singapore. Singapore is geographically well-positioned to offer low latency connections to regional markets, and TP ICAP’s multi-dealer Fusion FX platform will enable market participants from across the Asia-Pacific region to benefit from an improved trading experience.”
