Integral, a technology provider to the financial markets’ buy-side, is expanding its technology services in Asia with a new trading data centre in Singapore.
Integral said in a statement released today that its cloud-based SaaS FX workflow platform went live on Equinix’s Singapore SG1 data center, which enables it to provide localized liquidity and execution services from a Singapore base.
The move provides banks, brokers and other market participants with a complete eFX sytem for their internal traders and external customers. On top of that, it also improves the eFX trading experience for local partners in Singapore and the APAC region. Specifically, local clients will be able to deploy pricing engines, algos, connectivity and distribution tools immediately, as well as making prices, obtaining liquidity and hosting algorithms in a low latency configuration.
The Singapore presence adds to Integral’s existing operations in London and New York, as well as marks the firm’s third major global foreign exchange trading location. Founded in 1993, Integral maintains development, support, and sales offices in Palo Alto, New York, London, Tokyo, Singapore and Bangalore.
“We’re delighted to be able to offer IntegralFX locally in SG1 and extending the many benefits of our FX workflow technology to the growing buy-side in Singapore, the 3rd largest FX center globally. Due to the modular nature of our cloud-based SaaS technology, clients can take individual components or together as a full stack to meet their exact needs. Making IntegralFX available locally underpins our commitment to Singapore and wider Asian region,” said Harpal Sandhu, CEO of Integral.
Singapore aims to be Asia Pacific’s FX trading hub
The expansion accommodates current institutional client requirements and underpins Integral’s strategy to grow its infrastructure that is co-located at global data centers. The move expands the availability of its product suite under the MAS authorization, which allows the trading technology firm to offer FX products in line with local regulations.
The launch is in line with the plans of the Monetary Authority of Singapore (MAS) to develop the country as Asia Pacific’s FX trading hub. The nation’s markets regulator already supports several initiatives from different global banks who are in the midst of establishing their FX e-trading and pricing engines in the city-state.
Elaborating further on this approach, Lim Cheng Khai, Executive Director of Financial Markets Development Department at the Monetary Authority of Singapore (MAS) said: “Our strategic initiative to build Singapore to become the e-trading and price discovery centre for Asia is gaining momentum and we’re delighted that Integral is launching its SaaS service in Singapore. The high concentration of regional buy-side players looking for better connectivity & e-trading solutions is growing and we’re very pleased to welcome a global technology player to help support the growth of financial services locally.”
“At KGI Securities, we focus on precious metals and Asian NDFs, so we’re very happy to support initiatives that make it easier for customers to trade these in a Singapore data center. Integral has proven to be an excellent partner for us and we’re happy to support them in this initiative,” added Ken Ong, CEO of KGI Securities.
