Image Credit- www.jpmorgan.com
The JP Morgan, one of the planet’s high profile Forex prime brokers, keeps expanding its operations all over the world and on condition that customers with more services and locations to access them. The Firm is finishing the details to launch a new FX trading and pricing engine in Asian country Singapore. The development comes as no surprise, as the firm has been planning to expand its influence to Asia for quite some time now, as Several platforms and Financial centers are vying for the top spot in emerging continent. Among the increasing tension in the Hong Kong area, JP Morgan’s decision to entrust to a potentially Productive Singapore region and in a more general scope of things, to the Asia Pacific area, is coming at an opportunistic moment as the Company wants to enhance the central position of the Island as the Area’s leading FX trading ecosystem.
The Monetary Authority of Singapore(MAS) is sustaining the development and the Launch of the hub, premeditated to accelerate trade execution speeds for JP Morgan customers in the region. According the company itself, the official launch is scheduled for the Q1 of the next year. The new trading engine will be the firm’s fourth electronic forex trading infrastructure hub at international scale, and aims to attend an emerging market in a prime zone, as Singapore is among the most unwavering and fast growing economies in the whole continent. The new tool allows customers to enjoy faster transactions speeds for FX related operations crossways numerous geographical hubs. The new tool allows customers to enjoy faster transactions speeds specifically JP Morgan’s remaining three areas: New York, London and Tokyo. The recently announced hub in Singapore will cover up spot FX and Precious metals operations.
The Head of Asia Currencies and Emerging Markets trading at JP Morgan, Sanadya Sudhanshu stated that Singapore is still the Company’s Long standing FX hub in the Asia Pacific region, and the recent partnership with MAS will reduce latency in trade execution and increase Price transparency, ultimately improving customer experience. The JP Morgan’s improves, the capability for FX trading in Singapore and the Asia Pacific region is very immeasurable. The country they state will stand to assistance from the Flows, and the center will help strengthen Singapore’s position as one of the continent’s leading forex trading centers.