UOB Joins LSEG FX NDF Venue

LSEG FX says United Overseas Bank (UOB) has become the first Singaporean bank to joins its NDF Matching platform, which was launched last year out of SG1.

UOB has now traded and cleared that first trade on the venue through LCH ForexClear, LSEG says, adding that NDF Matching brings together the benefits of an NDF central limit order book and clearing. UOB joined ForexClear in October 2023 at the same time it connected to LSEG’s SwapClear service.

“We welcome UOB as the first Singaporean bank to LSEG’s NDF Matching venue,” says Rohit Verma, head of post trade Asia Pacific, LSEG. “As a leader in the Asian NDF market and Singapore’s first LCH ForexClear member, we look forward to supporting their clearing activity on the platform.”

Kelvin Ng, group head of global markets, UOB, adds, “Through this service, we are able to benefit from enhanced execution and access to cleared liquidity in addition to the operational efficiencies that LSEG’s end to-end-solution provides.”