SINGAPORE: SGX FX Deepens OTC FX Liquidity in Singapore with the launch of SGX CurrencyNode

Monday September 26 2022

On 21^st September 2022, Singapore Exchange (SGX) announced that its FX electronic communication network, SGX Currency Node, has officially launched with the trading of non-deliverable forwards (NDFs), after obtaining its Recognised Market Operator (RMO) licence from the Monetary Authority of Singapore (MAS). 

SGX CurrencyNode offers global banks, non-bank liquidity providers, brokers and institutional investors access to multiple sources of OTC FX liquidity anonymously through a single venue. 

Using a central prime brokerage model, SGX CurrencyNode currently streams liquidity for FX Spot, Precious Metals and NDFs, with plans to launch FX Swaps and NDF Spreads at a later date. BNP Paribas and Deutsche Bank are the central prime brokers for SGX CurrencyNode. 

SGX Group has been making strategic investments to expand its FX business to meet the growing needs of market participants. With SGX Group’s long-standing reputation as the region’s leading FX exchange, SGX CurrencyNode builds on the strengths of BidFX and MaxxTrader, combining OTC buyside and sell-side solutions. 

SGX FX hosts Asia’s most liquid FX futures exchange, across major Asian currency pairs. With the launch of SGX CurrencyNode, SGX FX now offers complete OTC FX technology solutions that cater to the electronification and automation needs of market participants, while connecting FX market liquidity providers to SGX FX’s OTC and futures marketplace.  

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