R5, the emerging marketplace for local market FX trading, announces that live trading has commenced in Singapore, following its authorisation from the Monetary Authority of Singapore (MAS).
R5 went live with its London clients during the last quarter of 2015, for eNDF trading. It’s ASEAN launch is strategically important due to the significant volume of emerging and local market currencies dealt in Singapore.
“With its modern infrastructure and political stability, Singapore is a major centre for FX trading”, said Roy Koh, Director, Asia Business Development at R5. “It continues to see significant FX volumes and a sizeable share of G10 and emerging market e-trading.”
“Receiving authorisation from the MAS, and subsequently going live in Singapore are important steps for R5, due to Singapore’s position as the Asian centre for emerging market FX trading”, said Jon Vollemaere, CEO of R5. “Many of our Singapore clients were involved at the inception of R5, seeking an electronic alternative for NDFs and emerging market FX to better service their customers and hedge their risk. It’s their market, and our job to provide new sources of liquidity, as well as improve the market structure. With their input we have developed our purpose-built platform, to which we will be adding more emerging market currencies and new services throughout 2016.”
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