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BNP Paribas to set up electronic currency trading platform in Singapore

BNP Paribas SA plans to establish an electronic currency trading and pricing platform in Singapore, Bloomberg News reported Jan. 6, citing a statement from the bank.

The platform will allow electronic trading of 50 currencies in spot, forward, swaps, non-deliverable forwards and options, as well as precious and base metals. The move came as the bank seeks to roll out its single dealer platform to clients in Singapore.

In September 2019, BNP Paribas agreed to absorb the global prime finance and electronic equities client portfolio of Deutsche Bank AG, subject to regulatory approval. The transfer would include the migration of technology and key staff covering the business.