LMAX adds APAC infrastructure with Singapore-based matching engine
SG1, which went live earlier this year, is the fourth matching engine run by LMAX Group globally.
SG1, which went live earlier this year, is the fourth matching engine run by LMAX Group globally.
The Singapore office will be strengthened with Sergei Gruzin, who was recently promoted to the position of Head of Business Development Asia.
The platform, which will use TP ICAP’s Fusion interface, will initially offer trading in Asian 1-Month Non-Deliverable Forwards (NDFs).
Together with wholly-owned subsidiary BidFX, the acquisition paves the way for SGX to build an integrated and scalable FX platform.
Scheduled to launch in Q4 2021, the new trading and pricing engine will be Edgewater’s fifth electronic FX trading hub globally.
The Singapore location joins London, New York, and Tokyo as PrimeXM’s fourth major global foreign exchange trading site.
The FX pricing engine, located in Singapore, also supports the country’s ambitions to become an e-trading FX hub in the region.
Northern Trust will set up a new electronic foreign exchange (eFX) pricing engine in Singapore, in partnership with MAS.
The new engine will offer e-FX trading for all the products KGI offers to clients globally.