Singapore is top of Asian FX heap, but for how long?

LAST month, there was a story about traditional rivals Singapore and Hong Kong getting together to build a blockchain-powered trade network - the first in the world and one that could cement the two trade hubs' position as global players.

The idea that the two "frenemies" could build a global trade connectivity network, with rollout aimed for 2019, is great, a win-win for all.

In the meantime, the fierce rivalry continues and one area that Singapore needs to watch out for is the derivatives and foreign exchange (FX) businesses.

Also, in November, the Hong Kong Exchanges and Clearing (HKEX) launched its iron ore futures contract, challenging the Singapore Exchange (SGX). SGX is currently…