The tech will offer e-FX trading of 50 currencies across various types of rates.
BNP Paribas has announced today that it will launch an electronic foreign exchange (e-FX) pricing and trading engine in Singapore, with the support of the Monetary Authority of Singapore (MAS), said a press release.
The new engine will offer e-FX trading of 50 currencies in spot, forward, swaps, non-deliverable forwards (NDFs) and options, as well as commodities e-trading for both precious and base metals.
The launch is in line with MAS’ plan to develop Singapore as Asia Pacific’s FX trading hub.
“The engine seeks to enhance trading experiences with improved latency and pricing and will provide more efficient price discovery and improved liquidity in the Asian trading hours for clients in the Asia-Pacific, and support global follow-the-sun execution of FX trades,” said Gillian Tan, executive director of financial markets development at MAS.
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