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StanChart to launch Singapore forex e-trading, pricing engine

Standard Chartered Bank intends to launch a foreign exchange e-trading and pricing engine in Singapore by the first quarter of 2020, The Business Times reported June 3.

The engine will allow clients to trade 130 currencies and over 5,000 currency pairs in spot, forward, swaps, non-deliverable forwards and options, according to the report. It will also allow for commodities e-trading of both precious and base metals.

Michele Wee, head of financial markets for Singapore, said the platform will allow the bank to offer consistent pricing to cater to its Asia-based clientele's hedging needs. Wee noted that the bank's forex e-trading volumes have grown by 40% year over year.

Standard Chartered Bank has e-trading engines in London, Tokyo and New York.

Standard Chartered Bank is a subsidiary of U.K.-based Standard Chartered PLC.