Published on 4th December 2020
Macquarie’s FX pricing hub will strengthen Singapore’s proposition as a global FX price discovery and liquidity centre, said MAS executive director Lim Cheng Khai.
Macquarie has announced plans to establish an Asia FX pricing engine in Singapore in the first quarter of 2021.
“The centralized FX hub will enhance Macquarie’s digital offering and allow it to better service its clients across the Asia Pacific region,” the bank said in a statement . “Locally hosted liquidity will allow customers optimal access to various developed and emerging regional markets including Australia, Singapore, Japan, China, Taiwan, Korea and India.”
The APAC pricing hub is an extension of Macquarie’s commodities and global markets division’s digital trading platform called ‘Aurora’, which allows clients real-time electronic access to a suite of products and services for trading, hedging and operational requirements.
The new Asia FX pricing engine will be Macquarie’s third FX trading hub globally following its establishment of infrastructure in London and New York.
“We welcome Macquarie’s establishment of its first FX pricing hub in the Asian time zone in Singapore,” said MAS (Monetary Authority of Singapore) executive director Lim Cheng Khai. “Tapping into the growing pool of global liquidity providers that are anchored in Singapore, Macquarie will be able to offer better price discovery and trade execution quality to its clients in the Asia Pacific region.”
“This latest addition of Macquarie’s FX pricing hub will also strengthen Singapore’s proposition as a global FX price discovery and liquidity centre, as more buy-side players base their e-trading infrastructure in Singapore to better connect with regional markets.”
The establishment of the new engine is aligned with MAS (Monetary Authority of Singapore) objectives to develop Singapore into a regional FX trading centre.
JP Morgan, Standard Chartered, UBS, Citi, BNP Paribas, Jump Trading and XTX Markets have already built FX trading infrastructure in Singapore, while BNY Mellon, Deutsche Bank , Barclays , Goldman Sachs and, most recently, UOB have confirmed plans to do so.

This data comes from MediaIntel.Asia's Media Intelligence and Media Monitoring Platform.