Two more banks consider Singapore engines

Fight to be dominant regional FX hub continues

Singapore-business-district

At least two more international banks are in talks about setting up foreign exchange trading engines in Singapore, as the city state tries to capture a greater share of the region’s FX flows.

Sources at both banks – one European and one US – confirmed they are speaking with the Monetary Authority of Singapore, but declined to go on the record.

An MAS spokesperson says: “We are in advanced discussions with a number of banks, non-bank proprietary firms and platforms. In addition, a diverse range

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