Standard Chartered’s First e-trade Using FX e-trading Engine in Singapore Results in Significant Latency Reduction

Published 

Singapore – Standard Chartered Bank  today announced the completion of its first Foreign Exchange (FX) e-trade using its newly set-up FX e-pricing engine in Singapore. Reduced latency in the trade execution was significant.

Standard Chartered unveiled in June 2019 its plan to establish the e-engine in the first quarter of 2020, with support from the Monetary Authority of Singapore (MAS).

This inaugural trade was executed with the Bank’s counterparty, United Overseas Bank (UOB). Using the e-trading engine, Standard Chartered achieved a reduction in trade latency of over 80%.

The first trade, conducted from 3.15 p.m. in Singapore on 20 January, delivered a 40% increase in trading volume compared to the average daily volume in the same time period last week. Estimated profitability generated from the trading volume rose more than 30%.

Michele Wee, Head of Financial Markets Singapore, Standard Chartered Bank said: “This is a key milestone for Standard Chartered in support of MAS’s goal to enable more efficient access to liquidity in the Singapore FX market. As one of the major FX participants in Singapore, we remain committed to leveraging this new solution to effectively serve our clients’ currency and commodities needs by offering them a seamless and consistent pricing experience for their hedging requirements.

Our clients have a keen interest in going digital – FX e-trading volumes continue to grow year-on-year. In 2019, we have seen a 30% uplift in spot trading volumes via our e-channels. With the enhanced efficiency proven by this trade using the new e-trading and pricing engine, we expect this positive trajectory to continue.”

Standard Chartered’s e-trading engine offers its clients FX e-trading of 130 currencies and more than 5,000 currency pairs in Spot, Forward, Swaps, Non-Deliverable Forwards (NDFs) and Options, as well as commodities e-trading for both Precious and Base Metals.

The Bank now operates four e-trading engines across the world, in London, New York, Tokyo and Singapore.

Most recent episodes

Advantage Treasury

Eleanor Hill is joined in the virtual TreasuryCast studio by Nicolas Cailly and Philippe Penichou (Societe Generale) to look at treasury trend predictions for the remainder of 2022, with a particular focus on virtual accounts. In this deep dive into current and future treasury priorities, our guests consider...

24:22

40th Annual New York Cash Exchange: What Can Treasurers Expect?

Ahead of the 40th annual New York Cash Exchange, two of TMANY’s distinguished board members, David Miller and Timothy T. Hesler, CTP, provide TMI CEO, Robin Page, with a quickfire rundown of what attendees can expect from this year’s conference. Our guests share their aspirations for the event,...

00:00

Expectation-Beating Inflation Prints Ratchet Up Pressure on Monetary Policy

Welcome to the third edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 9th May...

04:48

Making the Sustainable Transition: A Roadmap to ESG in Treasury

Over the last 18 months, Societe Generale has experienced a steady increase in requests from their corporate clients to integrate ESG features in treasury management.  Louis-David Rouyer, Philippe Pougeard, and Emmanuelle Petelle (Societe Generale) provide TMI’s Eleanor Hill with a whistlestop run...

22:24

Lift Off for Fed Rate Rises

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 5th of...

04:58

Treasury in 2022 and Beyond

Industry experts Bob Stark (Kyriba) and Sebastian di Paola (PwC) join TMI’s Editor, Eleanor Hill, to explore the very latest treasury trends – and to discuss how smart treasurers can get ahead of the game by ...

43:21

How BearingPoint Harnessed Data-Driven Forecasting with CashAnalytics and SAP

Listen back to our recent forecasting masterclass, where Group Treasurer Eveline Stam, and Conor Deegan (CashAnalytics) provided TMI’s Eleanor Hill with a comprehensive overview of how consultancy firm BearingPoint achieved company-wide cash forecasting nirvana by combining specialist solutions from...

37:14

The 3 T’s of The Future: Tech, Treasury, and Transformation

Over the past two years, an increasingly dynamic environment has not only accelerated technology development – from quantum computing to blockchain technology, and even the metaverse – but also technology adoption, bridging colleagues and breaking down silos in a remote work world. In this podcast,...

44:02

Monetary Policy Continues to Drive Markets as Ukraine Invasion Weighs on March Meetings

Welcome to the second edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 3rd of...

05:25

Tax Spotlight: How the OECD’s Two-Pillar Solution Impacts Treasury

Aaron Lee and Joseph Lee (DBS Bank) join TMI’s Eleanor Hill to discuss how the OECD’s Two-Pillar Solution aims to address the tax challenges arising from the digitalisation of the economy. Ahead of the 2023 implementation date multinational corporates will have much to consider around these reforms....

24:00