CFH is expanding its footprint in Singapore and the Asia-Pacific region with the launch of a MAS regulated office. The move comes as Singapore’s regulator is working with relevant market players to build an FX trading hub and expand the currency market infrastructure.
As part of its expansion in the Asian FX markets, CFH Singapore is also going live in Equinix’s Singapore SG1 data center, which enables the institutional broker to provide localized liquidity and execution services from a Singapore base.
The Copenhagen-based firm believes that this SG1 build-out will enhance its offering that includes front-to-back technology, multi-asset liquidity, and prime solutions. It also improves the eFX trading experience for local partners in Singapore and the APAC region.
The expansion accommodates current institutional client requirements and underpins CFH’s strategy to grow its infrastructure that is co-located at global data centers. The move expands the availability of its product suite under the MAS authorization, which allows the trading technology firm to offer OTC derivatives contracts and leverage products in line with local regulations. The products available to attract a client base consisting of FX and CFD brokerages, banks, proprietary trading houses, and hedge funds will be spot FX, precious metals and energies, along with global stock indices.
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Alex MacKinnon leads Asian e-FX business
CFH has originally announced plans to open a regional office in Singapore in 2018, marking the company’s third in Asia, after Hong Kong and Japan. At the time, Alex MacKinnon has joined CFH in Singapore to head up the firm’s newly-opened office in the city-state
Getting circuits up and running more quickly also enables CFH’s users to reap savings and achieve improvements in performance. The direct connectivity also reduces operational and regulatory risk while eliminating the capital expense of building a real-time network of connectivity. The offering also enables investors to take advantage of the arbitrage opportunities between different markets.
Commenting on the news, Alex MacKinnon, CEO of CFH Singapore, said: “We recognise the many benefits of Singapore having a stable political, economic environment, along with the focus of MAS being the number 1 FX centre in the region. As CFH has a fully in house built integrated system we will look to provide a reduction in transaction costs to clients in Singapore. Existing CFH clients will now have a regional presence to liaise with on all aspects of the business with the CFH Group.”