JP Morgan has become the latest FX player to establish an e-FX trading and pricing engine in Singapore as it seeks to speed up execution for clients in the region. It joins a host of trading firms and platforms to set up a presence in the city state as part of a plan announced by the Monetary Authority of Singapore in late 2017 to support the establishments of such hubs as it seeks to establish Singapore as a global price discovery and liquidity centre during Asian trading hours.
The new trading engine is JP Morgan’s fourth electronic FX trading infrastructure globally that allows clients to conduct FX transactions effectively according to their geographical locations, adding to its existing platforms in New York, London and Tokyo. Covering a full range of FX and precious metals, the firm says the new platform demonstrates its continued investment in this space for its clients.
“With market volumes and volatility at record levels, we’re pleased to provide clients with additional infrastructure to support their global price discovery and liquidity needs at such a critical juncture,” says Sudhanshu Sanadhya, head of Asia currencies and emerging markets trading, JP Morgan. “The platform will help to support the increased trading flows we’re seeing in Asia’s leading FX trading centre. This is another example of JP Morgan’s strength and our commitment to serving clients in all market conditions.”