BidFX Announces ICBC Standard as Liquidity Provider

BidFX has announced ICBC Standard as its newest liquidity provider on the leading FX EMS, an industry trading and workflow management solution for institutional FX clients.

BidFX Head of EMEA Sales, Roger Lee, commented: “As the latest BIS survey on FX indicates, currencies of emerging market economies (EMEs) are gaining market share, reaching 25% of overall global turnover. To that extent, it has become increasingly evident that electronic provision of EM liquidity, both deliverable and non-deliverable (NDF), has become a must. With that in mind, having the addition of a ‘frontiers pairs’ FX specialist such as ICBC Standard will be valued by the BidFX client base. We, therefore, welcome ICBC Standard as the latest provider on BidFX.”

Simon Goldberg, Director Corporate & Banks Sales, ICBC Standard Bank, said: “We look forward to partnering with the BidFX team to distribute our emerging market liquidity. BidFX is a natural partner in the space given its client base. Its strategy fits well with our regional focus on Africa & Frontier Asia markets, in which we have a substantial network due to our unique shareholding structure. ICBC Standard Bank is able to offer competitive and complementary products where most major banks are not active.”

In Q3 2019, the London based market-leading FX electronic trading solutions provider appointed Wai Kin Chan as the new head for business operations in the Asia Pacific region, to serve from the firm’s Singapore office. Chan has nearly 19 years of experience serving in the financial services industry handling Fixed Income, FX Sales and Prime Brokerage divisions of top tier firms during his vast career. Prior to taking up his current role at Bid FX, Chan served as head of
distribution for XTX Markets for their Asian market business operations. Prior to XTX Markets, he served at Morgan Stanley for a period of six years during which he held several high-level roles. Wai Chan started his tenure at the investment banking service provider back in September 2008 as Head of FICC eCommerce for the Asian Pacific region and was promoted to the role of Head of Sales for Banks, Prime Brokerage divisions along with his previous role of Head of FICC eCommerce division. Wai Chan started his career as Application Technology Associate for J.P Morgan serving in their Fixed Income Markets division and focused on Credit & Rates and served at the firm for three years. Post J.P. Morgan, he took up the role of e-Commerce Client Services Group Manager at Barclays Investment Bank and handles clients dealing in Fixed Income, Foreign Exchange, Futures & Options, Commodities, and Equities.

BidFX has also recently partnered with Jump Liquidity, enabling the firm to expand its liquidity pool. The firm has grown to become one of the largest market markets in FX central limit order books and ECNs. In early 2019, Singapore Stock Exchange purchased a 20% stake of BidFX.