Jump Liquidity is the latest FX trading business to announce that it is partnering with the Monetary Authority of Singapore (MAS) to bring its FX pricing engine to Singapore, joining a growing list of bank and non-bank liquidity providers to do so.
Singapore will be the third pricing engine location provided by Jump Liquidity, which already has a presence in London and New York, the firm says it plans to launch in Tokyo shortly. The pricing engine is expected to be in production in the third quarter of 2019 and the firm says that expanding its FX trading operations in Singapore, where the liquidity provider has had a physical presence for almost a decade, will provide its Asia-based counterparties with additional means of connectivity and access to liquidity.
The move supports plans announced by the MAS in 2017 to improve the e-trading landscape in Singapore as it seeks to continue to build on Singapore’s status as Asia’s largest foreign exchange trading centre by volume.
“Singapore is a key trading centre for Asia-Pacific, and we are committed to actively growing our business in the region,” says Daniel Sheen, head of sales and distribution for Jump Liquidity in Asia. “With the new pricing capability set up in Singapore, we can provide our counterparties with greater liquidity and efficiency in G10, Precious Metals and Emerging Markets transactions.”
Gillian Tan, executive director and head of financial markets development department, MAS, adds, “We are excited that Jump Liquidity will be expanding its e-trading offering for FX in Singapore. The diverse mix of players – banks, non-bank liquidity providers and trading platforms – that have set up their e-trading engines in Singapore demonstrates the potential of e-trading in FX in the region, and is a reflection of Singapore’s standing as the centre of FX execution in the Asia-Pacific region.”