Digital FX Hub created by Deutsche Bank and Monetary Authority of Singapore completes first round of transactions


German Bank (ETR: DBK) announced that it has completed “its first round of live transactions on its electronic exchange hub (e-FX), based at SG1”.

The e-FX hub, which was created with the help of the Monetary Authority of Singapore (MAS), allows Deutsche Bank customers to conduct foreign exchange transactions more closely “aligned with geographic location, which which helps speed up transaction execution times ”.

Head of APAC G10 FX Lee merchant declared:

“The Asia-Pacific is a prime example of the decentralization underway in the forex market globally. We set out to create a low latency trading environment so that our clients can benefit from localized price distribution and consumption, leading to improved execution results and performance of around 90 milliseconds, for Singapore customers. Investing in our platform in Singapore significantly enhances the electronic foreign exchange offering of market-leading Deutsche Bank and perfectly complements our other global currency trading platforms in New York, London and Tokyo.

In Euromoney’s annual currency survey, Deutsche Bank ranked second in APAC’s Global Market Share category this year and “ranks among the top 3 foreign exchange houses in 11 markets in the region. , significantly more than any other liquidity provider, ”announces the announcement. Noted.

Chris Bezuidenhout, CIO for Corporate & Investment Bank in APAC and Global Emerging Markets said:

“We continue to invest in improving our technology to ensure that our electronic offering for our customers is the best on the street. This was a complex delivery, which included setting up a significant local hardware, network and server infrastructure, as well as deploying a multitude of custom applications. We are proud that our unique technological delivery capability, which simplifies and accelerates trading, has positioned us at the heart of our clients’ foreign exchange requirements in this growing region.

Jean Zeng, Head of E-Trading FIC APAC added that they are eager to launch an additional e-FX pricing engine in Singapore.

Zeng also mentioned that the latest expansion of electronic pricing capability “continues to strengthen our emerging market currencies and NDF trading platform by providing clients with an improved execution experience both in terms of transaction latency. and quality of liquidity “.

He also noted that with Singapore’s growth as a major liquidity hub during the time zone, the investment “reaffirms Deutsche Bank’s strong commitment to the region and our never-ending quest to provide the best solution. to our customers ”.

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