While the retail forex industry waits for China to open its gates, the neighboring island may be a stepping stone into Asia.
The growth of Singapore’s importance as the leading Asian FX trading Hub has been proved on many levels.
Seemingly, the most significant breakthrough had already been achieved in 2013 when the Bank for International Settlements (BIS) reported that Singapore had overtaken Japan as the third major FX trading center of the world. Singapore, with a 5.7% market share was ahead of both rival Asian financial hubs – Japan and Hong Kong.
[gptAdvertisement]
A similar evolution is being observed in the case of regulated FX futures turnover. Back in January of 2015, the total trading volume at the Singapore Exchange (SGX) was equivalent to 239,261 contracts. At the end of December, the monthly volume grew to the level of 425,188 traded contracts; an impressive growth of 77%.
It makes a lot of sense to be based here as it provides access to a thriving local market but also to rapidly growing economies of Southeast Asia, China and India, and is home to over 7,000 multi-national companies
Financial firms offering FX/CFD trading were quick to spot the opportunity in Singapore. Foremost leading international brands had already emerged in 2006. These were branches of IG Group and Saxo Bank. Both were quickly followed by their long-time rivals, CMC Markets and Oanda. But is it Singapore that may enjoy the upper hand in rivalry for the title of local retail FX/CFD hub? What about Japan and HK? Which one has the brightest future?
An interesting study and conclusions in relation to the situation in this region were presented by the IMF in a recent presentation. In one of them, Hong Kong is the financial center for China, and Singapore is the financial center for the rest of the Asia. In the remaining scenarios, things evolved in very different, interesting directions. These directions should be considered by brokers looking seriously at this region.
Conclusion
With the situation in China still in its developmental phase, a lot has to be done before the local market is fully accessible to international brands. Growth potential is large but so are the obstacles. Singapore is already a very large retail market and a local financial hub. Whereas China could create big opportunities in the future, Singapore is already doing this. Staying outside of it may cost future competitors fighting for Asia more than one can imagine.
Want to learn more about the Singapore and other interesting financial markets? A detailed article on this topic can be found inside the our Industry Report for the first quarter of 2016.
The growth of Singapore’s importance as the leading Asian FX trading Hub has been proved on many levels.
Seemingly, the most significant breakthrough had already been achieved in 2013 when the Bank for International Settlements (BIS) reported that Singapore had overtaken Japan as the third major FX trading center of the world. Singapore, with a 5.7% market share was ahead of both rival Asian financial hubs – Japan and Hong Kong.
[gptAdvertisement]
A similar evolution is being observed in the case of regulated FX futures turnover. Back in January of 2015, the total trading volume at the Singapore Exchange (SGX) was equivalent to 239,261 contracts. At the end of December, the monthly volume grew to the level of 425,188 traded contracts; an impressive growth of 77%.
It makes a lot of sense to be based here as it provides access to a thriving local market but also to rapidly growing economies of Southeast Asia, China and India, and is home to over 7,000 multi-national companies
Financial firms offering FX/CFD trading were quick to spot the opportunity in Singapore. Foremost leading international brands had already emerged in 2006. These were branches of IG Group and Saxo Bank. Both were quickly followed by their long-time rivals, CMC Markets and Oanda. But is it Singapore that may enjoy the upper hand in rivalry for the title of local retail FX/CFD hub? What about Japan and HK? Which one has the brightest future?
An interesting study and conclusions in relation to the situation in this region were presented by the IMF in a recent presentation. In one of them, Hong Kong is the financial center for China, and Singapore is the financial center for the rest of the Asia. In the remaining scenarios, things evolved in very different, interesting directions. These directions should be considered by brokers looking seriously at this region.
Conclusion
With the situation in China still in its developmental phase, a lot has to be done before the local market is fully accessible to international brands. Growth potential is large but so are the obstacles. Singapore is already a very large retail market and a local financial hub. Whereas China could create big opportunities in the future, Singapore is already doing this. Staying outside of it may cost future competitors fighting for Asia more than one can imagine.
Want to learn more about the Singapore and other interesting financial markets? A detailed article on this topic can be found inside the our Industry Report for the first quarter of 2016.
A graduate of the Warsaw School of Economics, Sylwester received an MA specializing in finance and banking. As Finance Magnates' research associate and STA certified analyst, he leaves no stone unturned. Sylwester is the previous minority partner of an NFA registered US forex broker, and since 2003, has participated in many forex projects.
FCA's Consumer Duty Adds Costs, Making London the Most Demanding Market for Retail Firms
Executive Interview with Naaem Aslan | Zaye Capital Markets | FMLS:24
Executive Interview with Naaem Aslan | Zaye Capital Markets | FMLS:24
🔍 Dubai’s Rise as a Global Business Hub: Insights from Naeem Aslam
In this interview, Naeem Aslam, discusses Dubai's growing significance as a global business and financial center. With its strategic location, Dubai offers a favorable time zone for trading global markets, particularly the U.S. stock markets, giving businesses a competitive edge. Access to a diverse and efficient talent pool, competitive salaries, and an exceptional quality of life have positioned Dubai as an attractive destination for industry participants worldwide.
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🔍 Dubai’s Rise as a Global Business Hub: Insights from Naeem Aslam
In this interview, Naeem Aslam, discusses Dubai's growing significance as a global business and financial center. With its strategic location, Dubai offers a favorable time zone for trading global markets, particularly the U.S. stock markets, giving businesses a competitive edge. Access to a diverse and efficient talent pool, competitive salaries, and an exceptional quality of life have positioned Dubai as an attractive destination for industry participants worldwide.
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Executive Interview with Hugh Whelan | ACI | FMLS:24
Executive Interview with Hugh Whelan | ACI | FMLS:24
🔍 The Future of FX #Liquidity, Payments, and Data: Insights from ACI UK's Hugh Whelan
In this interview, Hugh Whelan, President of ACI UK and Head of #Liquidity Management & Data at SGX, explores the evolving FX market structure, the growing role of data #analytics, and the need for responsible liquidity management. Hugh emphasizes the importance of quality liquidity—beyond just pricing—and highlights how relationship-driven approaches remain critical, even in today's data-driven landscape.
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🔍 The Future of FX #Liquidity, Payments, and Data: Insights from ACI UK's Hugh Whelan
In this interview, Hugh Whelan, President of ACI UK and Head of #Liquidity Management & Data at SGX, explores the evolving FX market structure, the growing role of data #analytics, and the need for responsible liquidity management. Hugh emphasizes the importance of quality liquidity—beyond just pricing—and highlights how relationship-driven approaches remain critical, even in today's data-driven landscape.
#fmls #fmls24 #fmevents #payments #data
📣 Stay updated with the latest in finance and trading!
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Executive Interview with Yaacov Heidingsfeld | TraderTools | FMLS:24
Executive Interview with Yaacov Heidingsfeld | TraderTools | FMLS:24
Swimming Naked, Swimming Blind: The Truth About Liquidity in FX Markets
In this interview, Yakov Heidingsfeld, CEO of TraderTools, explores the complexities of liquidity management in the FX market. He highlights that while acquiring #liquidity may seem straightforward, the real challenge lies in understanding and managing customer flow. #Brokers often misrepresent flow quality—knowingly or unknowingly—leading to breakdowns in relationships with liquidity providers. Using advanced tools, such as real-time dashboards and AI-driven predictive models, Yakov emphasizes the importance of analyzing customer behavior, trading patterns, and time-based flow to better categorize traders and optimize pricing strategies.
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Swimming Naked, Swimming Blind: The Truth About Liquidity in FX Markets
In this interview, Yakov Heidingsfeld, CEO of TraderTools, explores the complexities of liquidity management in the FX market. He highlights that while acquiring #liquidity may seem straightforward, the real challenge lies in understanding and managing customer flow. #Brokers often misrepresent flow quality—knowingly or unknowingly—leading to breakdowns in relationships with liquidity providers. Using advanced tools, such as real-time dashboards and AI-driven predictive models, Yakov emphasizes the importance of analyzing customer behavior, trading patterns, and time-based flow to better categorize traders and optimize pricing strategies.
#fmls #fmls24 #fmevents #fm #forex
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Executive Interview with Daniel Moczulsky | eToro | FMLS:24
Executive Interview with Daniel Moczulsky | eToro | FMLS:24
Executive Interview with Daniel Moczulsky, Managing Director UK at eToro at the Finance Magnates London Summit 2024
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Executive Interview with Daniel Moczulsky, Managing Director UK at eToro at the Finance Magnates London Summit 2024
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Executive Interview with Michael Higgins | Hidden Road & ATFX | FMLS:24
Executive Interview with Michael Higgins | Hidden Road & ATFX | FMLS:24
Michael Higgins, the newly appointed International CEO of Hidden Road, shared insights into his expanded role and the evolving landscape of digital assets during an exclusive interview with Yam Yeshosua , Editor-in-Chief of Finance Magnates, at the London Summit (FMLS:24).
Moreover, he revealed Hidden Road’s plans to launch fixed income operations by early 2025, while expanding its multi-asset trading capabilities.
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Michael Higgins, the newly appointed International CEO of Hidden Road, shared insights into his expanded role and the evolving landscape of digital assets during an exclusive interview with Yam Yeshosua , Editor-in-Chief of Finance Magnates, at the London Summit (FMLS:24).
Moreover, he revealed Hidden Road’s plans to launch fixed income operations by early 2025, while expanding its multi-asset trading capabilities.
#fmls #fmls24 #fmevents #crypto #digitalassets
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