SINGAPORE: Singapore Exchange (SGX) has been named “Best Exchange for FX” at the FX Markets e-FX Awards 2020. The awards have been running for 18 years in recognition of the best-in-class in electronic FX trading globally.
In 2018 and 2019, SGX won the “Best FX Exchange in Asia” and “Best FX Clearing House in Asia” by FX Week, now known as FX Markets, following voting by banks, dealers, brokers and currency managers in the Asia Pacific region.
Lee Beng Hong, Head of Fixed Income, Currencies and Commodities (FICC), at SGX, said, “We are honoured to be conferred the global best FX exchange award, having been recognised as the best FX exchange and clearing house in Asia in the past two years.
“This validates our commitment to offer international market participants a single venue with deep liquidity to manage currency risks and express views on the market, which has been critical this year given the COVID-19 pandemic. Besides helping our clients enhance efficiencies through our customisable FlexC FX Futures, we have also acquired BidFX to bring together OTC and listed FX markets and serve a wider community with more comprehensive solutions.”
SGX is Asia’s largest and fastest-growing FX derivatives exchange that offers the longest derivatives trading hours in Asia, providing international market participants a venue to manage their Asian currency exposure round-the-clock.
SGX introduced FX futures contracts in 2013 and the offering now includes 20 FX futures and two options contracts with a pivot towards Emerging Asian currency pairs. Today, it is the world’s leading exchange for CNH and offshore INR futures contracts – both of these SGX’s flagship FX futures contracts are amongst the top ten most liquid FX contracts traded globally.
In July 2020, SGX acquired BidFX, a leading cloud-based FX trading platform for institutional investors, advancing its global ambitions to offer end-to-end FX platform and solutions and establish itself as a one-stop venue for international FX OTC and futures participants.