Deutsche Bank Launches e-FX Hub in Singapore

On Friday, Deutsche Bank has launched its electronic forex pricing and trading engine and completed first live trades in Singapore where demand for currency trading among institutional players is on the rise.

The e-FX hub, created in collaboration with the Monetary Authority of Singapore (MAS), allows Deutsche Bank's clients to execute FX transactions that are more closely matched to geographic location, resulting in speedier trade execution.

"Asia Pacific is a prime example of the ongoing decentralisation that is happening in the FX marketplace globally. We've set out to create a low latency trading environment so that our clients can benefit from localized price distribution and consumption, leading to improved execution results and performance of roughly 90 milliseconds, for clients in Singapore. The investment in our platform in Singapore significantly enhances Deutsche Bank's market-leading electronic FX offering, and nicely complements our other global FX trading hubs in New York, London, and Tokyo," commented Head of APAC G10 FX Lee Merchant.

"We are very excited to launch an additional e-FX pricing engine in Singapore. The latest expansion of electronic pricing capacity continues to strengthen our Emerging Market currencies and NDF trading platform by offering clients enhanced execution experience both in terms of transaction latency and quality of liquidity. With Singapore growing as a major liquidity hub during the Time Zone, the investment reaffirms Deutsche bank's strong commitment to the region and our endless pursuit to deliver the best-in-class solution to our clients," said John Zeng, Head of E-Trading FIC APAC.

Deutsche Bank's market-leading FX franchise continues to be recognized across Asia Pacific, with the company winning Best Emerging Markets FX Trading Platform at the FX Markets Asia Awards 2021. Asia Risk and GlobalCapital recognized the bank's fortitude and resilience throughout the epidemic as part of its 2020 awards.

Standard Chartered was also preparing to develop an e-trading engine that would allow customers to trade 50 currencies in spot, forward, swaps, non-deliverable forwards (NDFs), and options, as well as commodities.