Singapore eyes faster, cheaper forex trading ecosystem
MAS wants to develop pricing and matching engines here; Republic is world's 3rd largest FX hub, after London and NY, with HK close behind
Singapore
TRADING in Singapore's US$517-billion-a-day foreign exchange (FX) market is about to get even faster, cheaper and a whole lot more efficient.
The Monetary Authority of Singapore (MAS) is looking into developing an ecosystem of pricing and matching engines here, which entails improving the execution in the institutional FX market for Singapore-based buy-side players, and allowing sell-side banks to price more competitively.
The end-game: Making Singapore's FX market more future-ready.
MAS assistant managing director (Development…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Overcrowded Venice introduces first payment charge for tourists
South Korea readies new system to detect illegal short-selling
US births retreat after pandemic-era growth
Markets are embracing India’s Modi for what he won’t do
Blinken to meet businesses in Shanghai as he kicks off a tough China trip
Indonesia’s central bank surprises with ‘pre-emptive’ rate hike to cushion falling rupiah