TP ICAP to Launch Electronic FX Trading Platform in Singapore

TP ICAP Group announced on Thursday that it is going to launch an electronic Foreign Exchange trading platform in Singapore. In addition, the company is receiving support from the Monetary Authority of Singapore (MAS) for the upcoming services.

The platform will be based on TP ICAP’s Fusion interface and will initially offer institutional clients to trade in Asian 1 Month Non-Deliverable Forwards (NDF). Additionally, it has concrete plans for expansion by including FX Forwards and additional tenors in Asian NDFs.

“TP ICAP’s decision to locate a Fusion FX platform in Singapore is an important part of our strategy to enable our clients to trade electronically and access our deep, global liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term pools,” said Nicolas Breteau, the CEO of TP ICAP.

TP ICAP, which operates the largest dark pool Dark Pool Private exchanges that are not accessible by the investing public for trading securities are known as dark pools.Dark pools are named due to their lack of transparency and occasional predatory trading practices that are performed by high-frequency traders. These exchanges originally into existence towards the end of the 1980s as a way to better facilitate block trading performed by institutional investors. Why Use Dark Pools?Dark pools are used primarily by large-scale investors who do not seek Private exchanges that are not accessible by the investing public for trading securities are known as dark pools.Dark pools are named due to their lack of transparency and occasional predatory trading practices that are performed by high-frequency traders. These exchanges originally into existence towards the end of the 1980s as a way to better facilitate block trading performed by institutional investors. Why Use Dark Pools?Dark pools are used primarily by large-scale investors who do not seek Read this Term, is offering Fusion as a customizable electronic platform, offering clients access to global liquidity pools.

Moreover, TP ICAP is focused on expansion into several areas, especially cryptocurrencies, and has onboarded several big names as liquidity providers. However, the company recorded an 81 percent drop in its 2021 profits despite a marginal jump in its revenue.

The Next Trading Hub

The platform's expansion into Singapore is strategic for both itself and the regulators of the city-state. MAS already unveiled its plans earlier to make the country a major trading and corporate treasury hub.

“Singapore is the third-largest FX trading center globally and the largest in Asia, and we believe that it will continue to grow,” Breteau said.
Lim Cheng Khai, MAS’ Executive Director of Financial Markets Development Department, said: “Singapore is geographically well-positioned to offer low latency connections to regional markets, and TP ICAP’s multi-dealer Fusion FX platform will enable market participants from across the Asia-Pacific region to benefit from an improved trading experience.”

Meanwhile, many other institutional platforms are moving towards Singapore. Furthermore, Integral, which is a major technology provider in the FX market, made its IntegralFX services available in Singapore’s SG1 data center.