UOB Announces Deployment of Chronicle Software’s eFX Solution

Fazzaco learned that leading Asian bank Overseas Bank Limited (UOB)​ has announced its deployment of Chronicle Software’s eFX solution for its trade engine and electronic foreign exchange (FX) pricing.

According to the official announcement, UOB has the ability to utilize reduced latency via co-location connectivity to improve price discovery and to enhance pricing capability through Chronicle’s technology. In doing so, UOB said it is able to offer customers in ASEAN and across its global network access to more competitive FX pricing.

"Through our new electronic FX pricing and trade engine, UOB is well-positioned to help our customers seize opportunities arising from the strong institutional FX flows in Asia and Singapore’s status as a fast-growing FX trading hub. Our collaboration with Chronicle combines their technological capabilities with UOB’s deep understanding of our customers’ FX trading needs. Using Chronicle’s solution as the building blocks, we will continue to deepen our capabilities to provide our customers with faster access to global FX markets”, Mr Leslie Foo, Head of Group Global Markets at UOB said.

Commenting on the partnership, Peter Lawrey, CEO of Chronicle Software, said: “We are delighted to support UOB in their FX business and we look forward to continuing our close working relationship with them. Chronicle’s EFX solution offers reliability, ease of deployment and speed of development. We are pleased to be able to help UOB deliver their solution to market quickly and our recently added Singapore office will be able to provide strong local support.”