Edgewater Markets To Launch Pricing Engine In Singapore

July 19, 2021 - FX and technology company Edgewater Markets has announced that it will be launching a new FX trading and pricing engine in Singapore (SG1), scheduled to launch in the 4th quarter of 2021, aiming to strengthen its FX presence in the Asia-Pacific by partnering with local participants in Singapore and the surrounding region.

Edgewater’s data centre deployment in SG1 is a further indication of the momentum behind the Monetary Authority of Singapore’s (MAS) strategic push to develop Singapore into the top FX trading centre in the Asia-Pacific region for global price discovery and liquidity during Asian trading hours.

Shilpa Dubey, Head of APAC, Edgewater Markets

Shilpa Dubey, Head of APAC business for Edgewater, said, “We are very excited to be a part of the larger Singapore FX journey as the premier FX e-trading centre in Asia. Edgewater Markets will be investing in building out a local instance of our global FX trading system, EdgeFX.Pro™, combining our time-tested trading and pricing algorithms with ultra-low latency co-location connectivity”.

Scheduled to launch in the 4th quarter of 2021, the new FX trading and pricing engine and white label service offering will be Edgewater’s fifth electronic FX trading hub globally, adding to its existing platforms in New York (NY4), London (LD4), Mexico’s Kio5 (‘LatamFX’), and Tokyo’s TY3, EdgeFXAsia, catering to Spot FX, NDFs, and Precious Metals.

Chief Product Officer of Edgewater Markets, Brian Andreyko, remarked, “With local SG1 based trading infrastructure, pricing, trading, and order matching, our internal trading foreign exchange volumes will execute with bespoke local connectivity and all of our liquidity consumers and white label trading partners will benefit from better price discovery, lower latency, and improved execution quality.”

Matthew Kassel, Edgewater’s Chief Operating Officer, said, "We see the further development of our Asia business as a priority growth area for the firm globally. We have witnessed consistent growth of our APAC franchise over the past few years, and with both white-label technology and superior execution services, we are well poised to see that growth continue. Our decision to set up an SG1 based engine demonstrates our continued commitment to our clients in Singapore and in the neighbouring regions. With the expectations of expanding our client base, we also look to grow the Asia team by hiring more local talent to increase our client coverage and technology distribution."

Lim Cheng Khai, Executive Director, Financial Markets Development Department of MAS, said, “Edgewater’s eFX trading and pricing engine in Singapore adds diversity to the growing pool of market participants in our FX e-trading ecosystem, and boosts Singapore’s value proposition as the pre-eminent global FX centre in the Asian time zone. With this new infrastructure set-up, Edgewater will strengthen its offerings to its regional clients through better price discovery and trade execution.”

Edgewater has offices in 4 continents and has over 300 institutional clients. The company provides consistently competitive pricing for Spot, Swaps, Forwards, NDFs, and Metals accessible over multiple channels.