Edgewater Markets to Launch FX Trading and Pricing Engine in Singapore

Fazzaco learned that Edgewater Markets, a provider of trading solutions and execution services for the institutional market, announced that it will launch a new Forex trading and pricing engine in Singapore (SG1), which is an extension of its global growth strategy strengthening its FX presence in the Asia-Pacific region.

Edgewater's data centre deployment in SG1 is also aligned with the Monetary Authority of Singapore's (MAS) strategic push to develop Singapore into the top FX trading centre in the Asia-Pacific region for global price discovery and liquidity during Asian trading hours.

Scheduled to launch in the 4th quarter of 2021, the new FX trading and pricing engine and white label service offering will be Edgewater's fifth electronic FX trading hub globally, adding to its existing platforms in New York (NY4), London (LD4), Mexico's Kio5 (LatamFX), and Tokyo (TY3).

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Shilpa Dubey, Head of APAC business for Edgewater, said, "We are very excited to be a part of the larger Singapore FX journey as the premier FX e-trading centre in Asia. Edgewater Markets will be investing in building out a local instance of our global FX trading system (EdgeFX.Pro), combining our time-tested trading and pricing algorithms with ultra-low latency co-location connectivity."

Lim Cheng Khai, Executive Director, Financial Markets Development Department of MAS, said, "Edgewater's eFX trading and pricing engine in Singapore adds diversity to the growing pool of market participants in our FX e-trading ecosystem, and boosts Singapore's value proposition as the pre-eminent global FX centre in the Asian time zone. With this new infrastructure set-up, Edgewater will strengthen its offerings to its regional clients through better price discovery and trade execution."

Fazzaco earlier reported that Edgewater Markets has announced two key appointment in recent months. The company onboarded Jesse Hadley as Director of Liquidity in May and appointed Michael Cleary​ as Director of Sales in June.