BNY Mellon plans to build a high-performance FX pricing and trading engine in partnership with the Monetary Authority of Singapore. The bank will establish new low-latency electronic FX infrastructure in Singapore, helping to improve execution quality and price discovery for clients initially in spot, and subsequently in deliverable and non-deliverable forwards and swaps. This follows the establishment in 2019 of a dedicated FX custody trading desk in Singapore, the relocation of its short-term interest rate trading business from Hong Kong, and a new Singapore options trading desk.
