Lloyds has joined SGX FX as a liquidity provider, marking an expansion of the exchange’s current institutional FX liquidity offering.
Hugh Whelan
The addition of Lloyds is expected to enhance price formation for the exchange’s FX division, with the particular focus on markets related to directional and hedging strategies.
Specifically, the integration aims to create a transparent, competitive and resilient liquidity environment for SGX’s FX clients.
Speaking to The TRADE, Hugh Whelan, head of liquidity management and data at SGX FX, said: “Lloyd’s joining SGX FX reflects a broader trend of tier-one banks deepening their electronic FX distribution through third-party platforms. The company’s particular expertise in GBP and Commonwealth pairs adds genuine depth for institutional participants globally.”
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Currently, SGX’s FX platform spans spot, NDFs, outrights and swaps, with a key focus on data driven insights and analytics to support cross time zone trading, as well as execution and liquidity optimisation.
“We’ve seen significant growth across our FX franchise, underpinned by strong client relationships and investment in technology,” said Sarika Jajoo, head of electronic distribution, global markets at Lloyds.
“By providing liquidity on SGX FX, we are further extending our electronic reach and contributing high quality, analytically informed pricing to a global institutional marketplace.”
Lloyds’ integration follows news in February this year that SGX FX was set to combine its global liquidity and buy-side client base with CME Group’s EBS Market and FX Spot+ platform.
The move is expected to meet the growing demand for increasingly connected and interoperable execution.