Integral Deploys into SG1
Posted by Colin Lambert. Last updated: March 8, 2022
Integral says that its IntegralFX service is now available to clients in Singapore’s SG1 data centre, adding to the increasing number of providers that have located in the Asian centre as part of the Monetary Authority of Singapore’s (MAS) push to make it the regional e-trading hub.
The firm says it becomes the first complete cloud-based FX workflow SaaS platform in SG1, co-located with multiple market makers and takers. The benefits for local clients include the ability to deploy pricing engines, algos, connectivity and distribution tools immediately, as well as making prices, obtaining liquidity and hosting algorithms in a low latency configuration.
“We’re delighted to be able to offer IntegralFX locally in SG1 and extending the many benefits of our FX workflow technology to the growing buy-side in Singapore, the 3rd largest FX centre globally,” says Harpal Sandhu, CEO of Integral. “Due to the modular nature of our cloud-based SaaS technology, clients can take individual components or together as a full stack to meet their exact needs. Making IntegralFX available locally underpins our commitment to Singapore and wider Asian region.”
A growing number of banks and trading technology providers have established a presence in Singapore over the past four years, a period in which volumes in the centre have risen dramatically. “Our strategic initiative to build Singapore to become the e-trading and price discovery centre for Asia is gaining momentum and we’re delighted that Integral is launching its SaaS service in Singapore,” says Lim Cheng Khai, executive director of the financial markets development department at the MAS. “The high concentration of regional buy-side players looking for better connectivity and e-trading solutions is growing and we’re very pleased to welcome a global technology player to help support the growth of financial services locally.”
The move was also welcomed by Integral customer KGI Securities, Ken Ong, CEO of the firm, says, “We focus on precious metals and Asian NDFs, so we’re very happy to support initiatives that make it easier for customers to trade these in a Singapore data centre. “Integral has proven to be an excellent partner for us and we’re happy to support them in this initiative”.