LSEG's New NDF Matching Platform Goes Live

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London Stock Exchange Group (LSEG) announced on Tuesday (November 28, 2023) the go-live of its new NDF Matching platform in Singapore, which brings together multiple advances in LSEG's FX offering.

Specifically, the new NDF Matching platform leverages LSEG's new trading technology, and it takes advantage of post-trade expertise from LCH ForexClear, which offers 24-hour foreign exchange clearing for an ever increasing amount of the OTC FX market, enabling clearing as a choice at execution for the first time.

The introduction is the first phase of LSEG FX's replatforming initiative, which will see the migration of its FX venues onto LSEG's common core technology platform.

"This will provide market participants with better performance, improved functionality, streamlined connectivity, and support faster product innovation in the future," explained Neill Penney, Group Head of FX, LSEG.

Last month, Fazzaco reported that LSEG unveiled a continuous strong performance​ for the third quarter of 2023, with total income (excluding recoveries) of £1,966 million, up 8.0% year-on-year on a constant currency basis.