Deutsche Bank’s e-FX trading hub goes live 22 October 2021Singapore Reporter: Maddie Saghir
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Deutsche Bank has completed its first set of live trades on its electronic foreign exchange (e-FX) hub, based in Singapore.
The e-FX hub, which was developed in partnership with the Monetary Authority of Singapore (MAS), enables Deutsche Bank’s clients to execute FX transactions more closely aligned to geographic location, helping make trade execution times faster.
Asia Pacific (APAC) is a prime example of the ongoing decentralisation that is happening in the FX marketplace globally, explains Lee Merchant, head of GFX, APAC, Deutsche Bank.
According to Merchant, Deutsche Bank has set out to create a low latency trading environment so that clients can benefit from localised price distribution and consumption, leading to improved execution results and performance of roughly 90 milliseconds, for clients in Singapore.
Merchant says: “The investment in our platform in Singapore significantly enhances Deutsche Bank’s market-leading electronic FX offering, and nicely complements our other global FX trading hubs in New York, London, and Tokyo.”
Chris Bezuidenhout, chief investment officer for corporate and investment bank in APAC and global emerging markets, comments: “We are proud that our unique technology delivery capability, which simplifies and speeds up trading, has positioned us at the heart of our clients’ FX requirements across this fast-growing region.”
John Zeng, head of E-Trading FIC APAC, states: "The latest expansion of electronic pricing capacity continues to strengthen our emerging market currencies and NDF trading platform by offering clients enhanced execution experience both in terms of transaction latency and quality of liquidity.”
“With Singapore growing as a major liquidity hub during the Time Zone, the investment reaffirms Deutsche bank’s strong commitment to the region and our endless pursuit to deliver the best-in-class solution to our clients,” adds Zeng.
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