UBS to launch eFX engine in Q2 2019
It is expected to improve the FX market’s transparency and efficiency.
UBS launched an electronic foreign exchange (eFX) pricing and trading engine in Singapore in partnership with the Monetary Authority of Singapore (MAS). The engine will go live in the second quarter of 2019.
According to an announcement, the launch is expected to “promote greater transparency and efficiency for the foreign exchange market.” UBS centres its FX, rates, and credit business in Asia.
The engine is in line with MAS’ vision of enhancing eFX trading infrastructure, as part of its Financial Services Industry Transformation Map, said MAS executive director and head of financial markets development Alan Yeo.
Anthony Hall, head of foreign exchange, rates and credit (FRC) in Asia Pacific at UBS, commented, “The engine will provide our clients with greater liquidity and increased efficiency in the foreign exchange markets. Our collaboration with the MAS reaffirms Singapore’s importance as a global FX centre and reflects the growth of opportunities in Asia.”
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