SGX FX has confirmed African corporate and investment bank Rand Merchant Bank (RMB) as its newest liquidity provider, set to expand opportunities for traders trading the South African Rand.
Tim Hutchinson
Specifically, the partnership is through SGX FX’s eFX trading solutions platform for global buy-side institutions.
Roger Lee, SGX FX’s global head of sales, said: “This collaboration is emblematic of a shared vision to support and advance the global FX trading environment, pairing SGX FX’s cutting-edge EMS solutions with RMB’s market expertise and liquidity.”
RMB is recognised as the primary dealer by volume in USDZAR spot FX and through its inclusion, traders will benefit from a selection of neutral mid, inventory skewed USDZAR spot FX Electronic Spot Pricing (ESP), Request for Streams (RFS) and access to FX forwards and swaps through RFS.
Read more: Celebrating International Women’s Day with… SGX Group’s Lily Chia
“The unique liquidity proposition offered by RMB is an aggregate of our sizable onshore corporate and institutional franchises, which, in turn, allows for our electronic FX (eFX) pricing to be active and competitive during both South African and London business hours (7 am to 7 pm SA time),” explained Tim Hutchinson, head of FX and electronic execution at RMB.