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Singapore spurs development of FX trading hub & ecosystem
With the uptick in Asian currency trading and the growth of electronic trading, Singapore’s regulator is working with the financial industry to build an FX trading hub and expand FX market infrastructure, a move to improve liquidity and price discovery during Asian trading hours. The Monetary Authority of Singapore (MAS) is offering financial incentives to major banks and non-bank liquidity providers that agree to build matching engines and pricing engines in the country, reported Bloomberg on April 24 in “Shaving Milliseconds Off Currency Trades Could Make Singapore Billions.” The regulator has consulted with ... (full story)