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JPMorgan launches FX trading engine in Singapore
JPMORGAN Chase & Co has launched a foreign exchange (FX) trading and pricing engine in Singapore that will speed up trade executions for clients, it said on Wednesday.
The new engine allows clients to conduct FX transactions according to their geographical location, and covers a full range of FX and precious metals.
This is JPMorgan's fourth electronic FX trading infrastructure platform, with the other three located in New York, London and Tokyo.
The latest platform was launched with support from the Monetary Authority of Singapore. The central bank is looking to develop the Republic into a global price discovery and liquidity centre for FX during Asia trading hours, JPMorgan said.
Sudhanshu Sanadhya, JPMorgan's head of Asia currencies and emerging markets trading, said the platform will support increased trading flows in Singapore.
"With market volumes and volatility at record levels, we are pleased to provide clients with additional infrastructure to support their global price discovery and liquidity needs at such a critical juncture," he added.