After acquiring a 20% stake in BidFX last year, SGX has said it will acquire the remaining 80% stake as part of plans to boost its FX trading business.
Traders working remotely can use the BidFX mobile app to trade and manage spot FX, forwards and NDF positions securely.
China’s ICBC will provide emerging market liquidity on the BidFX execution management system (EMS).
FX EMS provider has said it has seen a surge in interest for specialised and local liquidity.
Latest version of the trading app from BidFX will give the buy-side 24/7 access to trade forex markets.
Nomura is the latest firm to add its algorithmic trading strategies to the BidFX execution management system.
Foreign exchange EMS platform BidFX has expanded number of algo providers with RBC in response to client demand.
Wai Kin Chan, formerly head of distribution for APAC at XTX Markets, will lead sales and oversee the BidFX business in Asia.
BidFX, a subsidiary of TradingScreen, will use the funds to expand its reach among the institutional investor community.