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Deutsche Bank launches e-FX trading hub in Singapore

Deutsche Bank’s global currency pricing mechanism for emerging markets was launched in Singapore last Friday. This came almost six months after the announcement that the institution was moving him there from London.

The largest German financial services provider announced the completion of its first real-time trading session at a new electronic currency exchange centre in Singapore. Deutsche Bank decided to relocate the Forex infrastructure responsible for emerging markets to reduce settlements’ geographic distance and speed. Thanks to this, the bank wants to maintain its position as one of the best-rated liquidity providers in the Asia-Pacific region (according to the annual Euromoney survey).

Singapore was the noticeable move from London. The Asian country is the 3rd world currency exchange centre, remaining behind Great Britain and the United States. Singapore is faster than Tokyo in transferring prices to local Asian markets and more secure than Hong Kong, in Chinese hands. The jurisdiction also keeps regulations innovative and attractive, attracting financial institutions from all over the world. The local regulator MAS (Monetary Authority of Singapore) actively supported Deutsche Bank in creating the new e-FX hub.

An Asian explosion in Forex trading

A significant factor determining the relocation of Deutsche Bank’s centre is the boom in high-frequency trading observed in the Asia-Pacific (APAC) region. Year by year, the Chinese yuan and other local currencies play an increasingly important role in the global exchange and strengthen their share in the worldwide Forex market. The importance of the APAC region is evidenced by the position of the three major Asian FX centres. Singapore, Hong Kong and Tokyo are respectively 3rd, 4th and 5th place globally in terms of the size of currency exchange volumes.

Author: Izabela Kamionka

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