LSEG FX announced the launch of its new NDF Matching venue and marked the first deliverable of its FX Venues Replatforming initiative, a multi-year project and significant investment in its trading.
The Replatforming initiative will move LSEG’s FX trading floors to a proven, common core technology. This same technology powers the London Stock Exchange, as well as Turquoise trading, and is able to offer multiple products and trading patterns.
LSEG’s new NDF Matching space combines the liquidity, execution, operational and capital benefits of a central NDF limit order book and clearing for the first time, offering an innovative solution for the global FX industry.
Neill Penney, Group Head of FX, LSEG, said:
“We are excited to launch the NDF Matching venue in Singapore. This new platform brings together multiple advances in the forex offering: our new trading technology; post-trade expertise from LCH ForexClear, enabling clearing as a first-time execution option. Our new enhanced trading desktop, LSEG Workspace. and hosting in Singapore for greater proximity to Asian NDF markets.
The launch of NDF Matching is the first phase of our cross-platform initiative, which involves migrating FX venues to LSEG’s common core technology platform. This will provide market participants with better performance, improved functionality, improved connectivity and support for faster product innovation in the future. We appreciate the engagement of our clients, who are as excited as we are about this next step forward for the FX industry.”