e-FX Trading Hub of Deutsche Bank Goes Live in Singapore

It’s been nearly 6 months since Deutsche Bank announced the replacement of its London-based global FX pricing engine for emerging markets with the one in Singapore. Today, the German financial services provider mentioned that it has completed its first set of live trades on its electronic foreign exchange (e-FX) hub, based in SG1.

Developed in collaboration with the Monetary Authority of Singapore (MAS), the e-FX hub allows clients of Deutsche Bank to execute FX transactions more closely aligned to geographic location. As a result, the trade execution process becomes efficient.

“Asia Pacific is a prime example of the ongoing decentralisation that is happening in the FX marketplace globally. We’ve set out to create a low latency trading environment so that our clients can benefit from localized price distribution and consumption, leading to improved execution results and performance of roughly 90 milliseconds, for clients in Singapore,” Head of APAC G10 FX Lee Merchant, commented.

Deutsche Bank also highlighted its growing popularity in the APAC region. The bank remained one of the top-ranked liquidity providers in APAC in Euromoney’s closely watched annual FX Survey. In September 2021, Deutsche Bank expanded its product range with the acquisition of Better Payment.

APAC Region

In the recent press release, Chris Bezuidenhout, Deutsche Bank’s CIO for Corporate & Investment Bank in APAC and Global Emerging Markets, mentioned that the FX market is growing in Asia. Chris also highlighted the need for efficient trade execution.

“We continue to invest in sharpening our technology to ensure that our electronic offering for our clients is best on the street. 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,” Chris said.

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