Deutsche Bank has today announced that it will establish an electronic foreign exchange (e-FX) hub in Singapore by developing an FX trading and pricing engine onshore, in conjunction with the Monetary Authority of Singapore.

It says the initiative will make the city-state of Singapore Deutsche Bank's fourth global FX centre, along with New York, London and Tokyo.

The Singapore e-FX hub will provide clients with the ability to execute FX transactions more closely aligned with geographic location, reducing latency, improving on local price transparency and liquidity.

David Lynne, Head of Fixed Income and Currencies APAC, Head of Corporate Bank APAC and Chief Country Officer, Singapore, said: "Given the substantial increase in demand for Asia currency e-FX we have seen in the past five years, growing client sophistication in e-FX trading, and the MAS's focus on further developing the leading FX centre in the region, hubbing this activity in Singapore makes perfect sense."

The hub will be developed and staffed locally, and will be aligned to Deutsche Bank's focus across e-trading, fintech clients and digital FX payments.

Gillian Tan, the Monetary Authority of Singapore Executive Director, Financial Markets Development, said: "We are heartened by Deutsche Bank's commitment to build its fourth global FX electronic pricing and trading engine in Singapore, which will complement its APAC fixed income & currencies and global transaction businesses operating here.

"This will allow Deutsche Bank to build on its strengths as a key global FX player and support its regional clients with enhanced price discovery and execution from Singapore, while leveraging Singapore's strengths as Asia's pre-eminent FX centre."

As global cross-border payment processes rapidly move towards being completely digital, Deutsche Bank says it will further develop its Singapore infrastructure to be the payments hub for transactional FX business in APAC.

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Deutsche Bank has today announced that it will establish an electronic foreign exchange (e-FX) hub in Singapore by developing an FX trading and pricing engine onshore, in conjunction with the Monetary Authority of Singapore.

It says the initiative will make the city-state of Singapore Deutsche Bank's fourth global FX centre, along with New York, London and Tokyo.

The Singapore e-FX hub will provide clients with the ability to execute FX transactions more closely aligned with geographic location, reducing latency, improving on local price transparency and liquidity.

David Lynne, Head of Fixed Income and Currencies APAC, Head of Corporate Bank APAC and Chief Country Officer, Singapore, said: "Given the substantial increase in demand for Asia currency e-FX we have seen in the past five years, growing client sophistication in e-FX trading, and the MAS's focus on further developing the leading FX centre in the region, hubbing this activity in Singapore makes perfect sense."

The hub will be developed and staffed locally, and will be aligned to Deutsche Bank's focus across e-trading, fintech clients and digital FX payments.

Gillian Tan, the Monetary Authority of Singapore Executive Director, Financial Markets Development, said: "We are heartened by Deutsche Bank's commitment to build its fourth global FX electronic pricing and trading engine in Singapore, which will complement its APAC fixed income & currencies and global transaction businesses operating here.

"This will allow Deutsche Bank to build on its strengths as a key global FX player and support its regional clients with enhanced price discovery and execution from Singapore, while leveraging Singapore's strengths as Asia's pre-eminent FX centre."

As global cross-border payment processes rapidly move towards being completely digital, Deutsche Bank says it will further develop its Singapore infrastructure to be the payments hub for transactional FX business in APAC.