RMB Joins SGX FX

South Africa’s Rand Merchant Bank has joined SGX FX, Singapore Exchange’s OTC FX platform, as a liquidity provider.

SGX says Rand Merchant Bank (RMB) “is recognised as the primary dealer by volume in USD/ZAR spot FX”, meaning the collaboration opens up more opportunities for traders to engage in trading the South African rand. The platform adds that as a top liquidity provider, traders who select RMB can streamline their FX dealings with sophisticated features including a selection of neutral mid, inventory skewed USD/ZAR spot FX electronic spot pricing (ESP) and request for streams (RFS) as well as access to FX forwards and swaps through RFS.

“The unique liquidity proposition offered by RMB is an aggregate of our sizable onshore corporate and institutional franchises, which, in turn, allows for our electronic FX pricing to be active and competitive during both South African and London business hours (7 am to 7 pm SA time),” explains Tim Hutchinson, head of FX and electronic execution at RMB.

SGX FX’s global head of sales, Roger Lee, adds, “This collaboration is emblematic of a shared vision to support and advance the global FX trading environment, pairing SGX FX’s cutting-edge EMS solutions with RMB’s market expertise and liquidity.”