Wells Fargo & Company has announced plans to launch new electronic Foreign Exchange pricing capabilities in Singapore in the second half of 2024. The launch, supported by the Monetary Authority of Singapore (MAS), aims to deliver a lower latency trading environment to clients and promote greater efficiency for the Singapore and wider APAC Foreign Exchange (FX) markets. With the local pricing capability now available via the Singapore SG1 Data Center (SG1), Wells Fargo will be able to connect with more of its clients in APAC as well as price and execute eFX transactions faster and more efficiently. Vincent Hindman, global head of FX, added, “Wells Fargo continues to invest in the growth of its global FX business, particularly in our people and technology, in order to best serve our clients. The SG1 project will allow us to capitalize on this liquidity by offering it electronically via lower latency pricing so our clients can achieve better execution results.”
