--- title: BNY Mellon Expands FX Footprint in Singapore description: The bank will build an FX pricing and trading engine with the Monetary Authority of Singapore. image: https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/perseus-sets-sights-on-asia-May-12-2022-09-14-32-60-AM.jpg --- ![websites-group](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/new-MMG-01.svg) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-new-marketsmedia-logo.svg)](https://www.marketsmedia.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-traders-redlogo.svg)](https://www.tradersmagazine.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-bestexe-logo.svg)](https://www.bestexecution.net/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-fidesk-logo.svg)](https://www.fixglobal.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-fixglobal-new-logo.svg)](https://www.fixglobal.com/) - [*Facebook*](https://www.facebook.com/MarketsMedia/) - [*Twitter*](https://twitter.com/marketsmedia) - [*Linkedin*](https://www.linkedin.com/company/markets-media-llc) - [Newsletter](https://articles.marketsmedia.com/bny-mellon-expands-fx-footprint-in-singapore#popup-newsletter) #### Want the latest news on securities markets -- FREE? 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The bank will establish new low-latency electronic FX infrastructure in the Southeast Asian nation, helping to improve execution quality and price discovery for clients initially in spot, and subsequently in deliverable and non-deliverable forwards and swaps. "We've spent the past four years fully integrating and accentuating our global FX capabilities, and this is just the next step in the bank's commitment to the region, specifically to Singapore as the hub of our Asia G10 FX trading," said Darren Boulos, Head of FX Sales and Trading in Asia-Pacific at BNY Mellon. "With the benefit of local support, we can accelerate our offering of additive liquidity to clients." "BNY Mellon is a welcome addition to Singapore's FX e-trading ecosystem," said Gillian Tan, Executive Director, Financial Markets Development, at MAS. "The importance of robust and resilient infrastructure to support FX trading activities cannot be understated, and we are heartened that FX players that have set up their regional pricing and matching engines in Singapore have reported greater efficiency in price discovery and improved execution for their clients." BNY Mellon already sees significant FX volumes in Singapore across more than 70 deliverable currencies, including in most restricted APAC markets, thanks to the uniquely uncorrelated liquidity that comes with executing daily flows for clients of its large custody franchise. In 2019, the bank set up a dedicated FX custody trading desk in Singapore, relocated its Short-Term Interest Rate Trading (STIRT) business from Hong Kong, and established a Singapore options trading desk. Source: BNY Mellon [Share](https://www.facebook.com/share.php?u=https://articles.marketsmedia.com/bny-mellon-expands-fx-footprint-in-singapore) [Tweet](https://twitter.com/intent/tweet?text=US+ETFs+Have+Record+Net+Inflows&url=https://articles.marketsmedia.com/bny-mellon-expands-fx-footprint-in-singapore) [Share](https://www.linkedin.com/cws/share?url=https://articles.marketsmedia.com/bny-mellon-expands-fx-footprint-in-singapore) ![email](https://articles.marketsmedia.com/hubfs/Markets%20Media/email.svg) ### NEWSLETTER SIGN UP And receive exclusive articles on securities markets ### Related articles 1. 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