Travelex, the world's largest foreign exchange specialist, today announces the opening of a new enlarged trading floor in Singapore to respond to an increased demand for foreign exchange services from corporate customers in Asia.
This mirrors the appetite for international payment services which we have witnessed around the world.
Travelex has conducted business in Asia since 1989 and presently offers services ranging from foreign exchange dealing, payments and currency risk solutions as well as consumer services such as personal transfers, student fee remissions, retail foreign exchange and prepaid cards.
David Chan, Managing Director, Asia, Travelex commented: "The opening of our newly expanded facility is a reflection of our commitment to grow our business in Asia. We will continue to expand our superior services for our customers in the region. We are confident that riding on the growth momentum, our presence will expand in Asia and more new products and services will be available to meet the needs of our partners and customers."
Yogesh Shetty, Commercial Foreign Exchange Director, Travelex, said: "The new expanded trading floor will assist Travelex in delivering its foreign exchange
services beyond the 1,200 corporate customers it already serves in Singapore. We have experienced a fantastic growth since 2002. Our turnover is up by 600% and we anticipate a 40% year-on-year increase in transactions in 2006."
Travelex currently operates five other foreign exchange trading floors worldwide including New York, Toronto, London, Sydney, and Hong Kong and will open another one in San Francisco later on this year.