J.P. Morgan announced that its new electronic FX trading and pricing engine, designed to speed up trade executions for clients, is now live in Singapore, with support from the Monetary Authority of Singapore (MAS).
First announced in August 2019, the new trading engine is J.P. Morgan’s fourth electronic FX trading infrastructure globally that allows clients to conduct FX transactions effectively according to their geographical locations, adding to its existing platforms in New York, London and Tokyo. Covering a full range of FX and precious metals, the new platform demonstrates the firm’s continued investment in this space for its clients.
“With market volumes and volatility at record levels, we’re pleased to provide clients with additional infrastructure to support their global price discovery and liquidity needs at such a critical juncture. The platform will help to support the increased trading flows we’re seeing in Asia’s leading FX trading center,” said Sudhanshu Sanadhya, head of Asia currencies and emerging markets trading, J.P. Morgan, in a statement.
The partnership with MAS is part of the central bank’s strategic initiative to develop Singapore into a global price discovery and liquidity center for FX during Asia trading hours.