Deutsche Bank has revealed its electronic foreign exchange (e-FX) hub, based in Singapore. The German financial services provider completed its first set of live trades on its e-FX last Friday.
Developed in collaboration with Monetary Authority of Singapore (MAS), the e-FX hub allows Deutsche Bank’s clients to execute FX transactions more closely aligned to geographic location, helping cut down on trade execution times.
Head of APAC G10 FX Lee Merchant commented:
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.
Deutsche Bank highlighted its growing presence in the APAC region, moving up the list of the top-ranked liquidity providers in APAC in Euromoney’s annual FX Survey.
Chris Bezuidenhout, CIO for Corporate & Investment Bank in APAC and Global Emerging Markets said:
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.
Deutsche Bank recently expanded its market share in payment processing and acceptance with the acquisition of the payments service company Better Payment Germany GmbH.
