FastMatch, Euronext’s Electronic Communication Network (ECN) for Foreign Exchange (FX) trading, has announced earlier this week that it has expanded in Asia, establishing a new matching engine in Singapore.
The new matching engine will be fully operational in the Q4 2019 and will allow customers in various Asia-Pacific markets including Singapore, Australia and Hong Kong to benefit from an improved trading experience and connectivity.
Kevin Wolf, CEO FastMatch Source: LinkedIn
Kevin Wolf, CEO of FastMatch, said:
Euronext FastMatch’s decision to establish a matching engine and open an office in Singapore is an important step that will make the company more relevant to new and existing clients around the globe, and increase the availability of its best-in-class technology platform which is already recognized for its speed, reliability, and numerous unique features. Euronext FastMatch’s expansion in Singapore, which is currently the largest FX centre in Asia and the third largest globally, reflects its ambition to create a strong development base in Asia. We are looking forward to working with MAS and appreciate their active support to further grow the local financial ecosystem and our footprint.
Alan Yeo, Executive Director of MAS, commented:
We are excited that global FX players and platforms are building on Singapore’s strength as the largest FX centre in Asia Pacific, and choosing Singapore as the venue to establish their e-trading infrastructure in expanding their Asian FX business. Having more players like Euronext’s FastMatch setting up in Singapore will support the formation of a regional e-trading ecosystem that will offer better connectivity and more effective execution of trades. This will enable our FX market to better serve Asia’s growing FX needs.