Singapore Exchange (SGX) has been named the “Best FX Exchange in Asia” for the third consecutive year at the FX Markets Asia Awards 2020.
The award recognises the exchange which has shown the ability to offer cost-effective and new solutions to market participants, as well as growing liquidy and volumes.
“As the world’s largest and fastest-growing venue for Asian FX futures, SGX is widely seen as a reliable and leading marketplace, providing deep liquidity in Asian currencies amid heightened market volatility due to Covid-19,” says the exchange in a statement dated Nov 11.
The win was based on the number of votes by professionals from the foreign exchange (FX) and money market industries.
Lee Beng Hong, senior managing director, head of fixed income, currencies and commodities at SGX, said, “SGX offers continuous price formation and round-the-clock risk management which is even more important given rapidly changing market conditions. At the height of market volatility earlier this year, our Asian FX futures demonstrated deep liquidity across time zones, while offering cost-efficient trading throughout”.
“We have seen trading interest from international participants growing significantly and are grateful for the confidence that our clients have in our products and platform. Being recognised for our strengths for the third year in a row is a deep honour and we look forward to continue serving the market with relevant solutions as the FX landscape evolves,” he adds.
Shares in SGX closed 11 cents higher or 1.2% up at $9.11 on Nov 11.
See: SGX total securities up 8% y-o-y to $23.2 bil in October; market turnover value of ETFs surged 54% y-o-y to $363 mil