Citigroup Inc. is set to launch an electronic foreign exchange pricing and trading platform in Singapore in 2019.
The platform will go live in the fourth quarter, according to a March 11 release. It will initially offer 23 spot currencies and two precious metals, namely gold and silver.
The engine will include a proprietary pricing and hedging algorithm, through which clients can deal, the company said.
Singapore will become the fourth market to offer the service after London, New York and Tokyo.