BNY Mellon has this week announced that it will build a high-performance foreign exchange (FX) pricing and trading engine in partnership with the Monetary Authority of Singapore (MAS), the latest milestone as the bank continues to enhance its foreign exchange presence in the region.

The bank says it will establish new low-latency electronic FX infrastructure in the Southeast Asian nation, helping to improve execution quality and price discovery for clients initially in spot, and subsequently in deliverable and non-deliverable forwards and swaps.

"We've spent the past four years fully integrating and accentuating our global FX capabilities, and this is just the next step in the bank's commitment to the region, specifically to Singapore as the hub of our Asia G10 FX trading," said Darren Boulos, Head of FX Sales and Trading in Asia-Pacific at BNY Mellon. "With the benefit of local support, we can accelerate our offering of additive liquidity to clients."

"BNY Mellon is a welcome addition to Singapore's FX e-trading ecosystem," said Gillian Tan, Executive Director, Financial Markets Development, at MAS.

"The importance of robust and resilient infrastructure to support FX trading activities cannot be understated, and we are heartened that FX players that have set up their regional pricing and matching engines in Singapore have reported greater efficiency in price discovery and improved execution for their clients."

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BNY Mellon has this week announced that it will build a high-performance foreign exchange (FX) pricing and trading engine in partnership with the Monetary Authority of Singapore (MAS), the latest milestone as the bank continues to enhance its foreign exchange presence in the region.

The bank says it will establish new low-latency electronic FX infrastructure in the Southeast Asian nation, helping to improve execution quality and price discovery for clients initially in spot, and subsequently in deliverable and non-deliverable forwards and swaps.

"We've spent the past four years fully integrating and accentuating our global FX capabilities, and this is just the next step in the bank's commitment to the region, specifically to Singapore as the hub of our Asia G10 FX trading," said Darren Boulos, Head of FX Sales and Trading in Asia-Pacific at BNY Mellon. "With the benefit of local support, we can accelerate our offering of additive liquidity to clients."

"BNY Mellon is a welcome addition to Singapore's FX e-trading ecosystem," said Gillian Tan, Executive Director, Financial Markets Development, at MAS.

"The importance of robust and resilient infrastructure to support FX trading activities cannot be understated, and we are heartened that FX players that have set up their regional pricing and matching engines in Singapore have reported greater efficiency in price discovery and improved execution for their clients."