Deutsche Bank Completes First FX Trades in SG1
Posted by Colin Lambert. Last updated: October 22, 2021
Deutsche Bank has completed its first set of live trades on its e-FX hub, based in Singapore’s SG1 data centre.
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 is a prime example of the ongoing decentralisation that is happening in the FX marketplace globally,” says Lee Merchant, head of APAC G10 FX at Deutsche Bank. “We’ve set out to create a low latency trading environment so that our clients can benefit from localised price distribution and consumption, leading to improved execution results and performance of roughly 90 milliseconds, for clients in Singapore. 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.”
Singapore’s stated ambition to become the leading e-FX hub for Asia-Pacific continues to progress well, with the addition of one the top FX LPs in Deutsche, boosting its profile further.
“We continue to invest in sharpening our technology to ensure that our electronic offering for our clients is best on the street,” says Chris Bezuidenhout, CIO for Deutsche’s Corporate & Investment Bank in APAC and global emerging markets. “This was a complex delivery, which included the set-up of significant local hardware, network, and server infrastructure, as well as the deployment of a host of customised applications. 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, at the bank, adds, “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.”