LSEG FX, LCH ForexClear announce go-live of their new NDF Matching platform
LSEG FX has announce the go-live of its new NDF Matching venue and marked the first deliverable of its FX Venues Replatforming initiative, a multi-year project, and significant investment in its FX business.
The Replatforming initiative will see LSEG’s FX venues migrating to a proven, common core technology. This same technology powers the London Stock Exchange, as well as Turquoise trading, and is capable of delivering multiple products and trading paradigms.
LSEG’s new NDF Matching venue brings together the liquidity, execution, operational and capital benefits of an NDF central limit order book and clearing for the first time, offering an innovative solution for the global foreign exchange industry.
Neill Penney, Group Head of FX, LSEG, said:
“We are excited to have launched our NDF Matching venue in Singapore. This new platform brings together multiple advances in our FX offering: our new trading technology; post-trade expertise from LCH ForexClear, enabling clearing as a choice at execution for the first time; our new enhanced trading desktop, LSEG Workspace; and hosting in Singapore for closer proximity to the Asian NDF markets.
The launch of NDF Matching is the first phase of our replatforming initiative, which involves the migration of our FX venues onto LSEG’s common core technology platform. This will provide market participants with better performance, improved functionality, streamlined connectivity, and support faster product innovation in the future. We appreciate the commitment from our customers, who are as excited as we are in this next step forward for the FX industry.”