Business Wire

Northern Trust to Deploy Electronic Foreign Exchange Pricing Engine in Singapore

2 Mins read

Launch in Partnership with Monetary Authority of Singapore

SINGAPORE–(BUSINESS WIRE)–Northern Trust (Nasdaq: NTRS) today announced that it will set up a new electronic foreign exchange (eFX) pricing engine in Singapore, in partnership with the Monetary Authority of Singapore (MAS). This will be Northern Trust’s first eFX engine in Asia-Pacific.

“Singapore is a key FX centre for Northern Trust and financial markets globally,” said John Turney, head of global foreign exchange at Northern Trust Capital Markets. “Establishing a regional eFX pricing engine in Singapore will enhance the service provided by our Singapore-based FX desk and complements our continued expansion of FX solutions across Asia-Pacific including currency management and Complete FX™.”

In recent years, Northern Trust has launched a number of innovative FX solutions, and acquired BEx LLC, a platform providing algorithmic FX trading, global liquidity aggregation and transparency in execution and pricing to institutional clients worldwide. In addition, it announced a strategic partnership with Lumint Corporation, an innovative provider of currency management services, enhancing Northern Trust’s currency management solutions with machine learning models.

Yen Leng Ong, country executive for Southeast Asia at Northern Trust, added: “The launch of our eFX platform in Singapore demonstrates our continued commitment to deliver a broad range of sophisticated solutions to our clients in Asia-Pacific. We are excited to be a part of this joint initiative with MAS which will further develop the FX market ecosystem in Singapore, and Asia as a whole. Co-locating the pricing engine with the trading desk in Singapore, regional market participants will benefit from improved speed and enhanced pricing discovery, as well as increasingly timely and efficient execution.”

Lim Cheng Khai, executive director for Financial Markets Development at MAS said: “We welcome the launch of Northern Trust’s Asia-Pacific eFX pricing engine in Singapore. The addition of Northern Trust to our FX e-trading infrastructure will strengthen our proposition to provide efficient price discovery and trade execution to market participants in the region, and enable Northern Trust to continue to bring market leading capabilities to its clients. It also bears strong testimony to Singapore’s proposition as a global FX centre in the Asian time zone.”

Northern Trust Global Foreign Exchange, part of Northern Trust Capital Markets, provides a range of liquidity, trading, transaction processing and outsourced FX solutions for institutional investors. Northern Trust Capital Markets is comprised of a number of Northern Trust entities that provide trading and execution services on behalf of institutional clients, including foreign exchange, institutional brokerage, securities lending and transition management services.

Northern Trust has an established network of 11 offices across Asia-Pacific in Beijing, Bengaluru, Hong Kong, Kuala Lumpur, Manila, Melbourne, Pune, Seoul, Singapore, Sydney and Tokyo. It has strong relationships with some of the region’s largest central banks, sovereign wealth funds, government agencies and corporations, offering a comprehensive range of customised asset servicing, asset management and capital markets solutions.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2020, Northern Trust had assets under custody/administration of US$14.5 trillion, and assets under management of US$1.4 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.


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Marcel Klebba

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