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Barclays Launches FX Engine in Singapore

Barclays announced that it will deploy its latest FX trading and pricing engine in Singapore, under the Monetary Authority of Singapore’s (MAS) FX Trading Hub strategy. Barclays will be building out a local instance of BARX, one of the leading FX trading systems globally. This will include the rollout of the latest BARX Direct technology which combines next-generation pricing algorithms with ultra-low latency co-location connectivity. With the BARX infrastructure being based in Singapore, local and regional market participants will be able to leverage existing BARX functionality while benefitting from increased price discovery, lower latency and improved quality of execution. BARX Direct for 1-month Non-Deliverable Forwards (NDFs) will provide tighter and more accurate prices with reduced latency through localised co-location client connectivity and price discovery. Scheduled to be launched in mid-2021, the new FX trading and pricing engine will be Barclays’ fourth electronic FX trading hub globally, adding to its existing platforms in New York, London and Tokyo.

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