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FXBrokerFeed – End of March Forex Market Report

Published on: 03/29/19 12:40 PM

Tags: , , , , ,

Category: Newsletter

The first quarter of 2019 is finally on the home stretch. Forex Broker comparison service FXBrokerFeed brings you up to speed once again, with this week’s report, containing updated news, and trends in the broker market, featuring both Asia Trading Summit 2019 and SGX acquisition of BidFX’s 20% equity.

 

Asia Trading Summit 2019

The third Asia Trading Summit 2019 in Shanghai was a roaring success. Focusing on asset allocation for diverse portfolios, regulation, and compliance issues, the event also provided networking opportunities to over 5000 participants, including international industry players, investors, and exhibitors, in addition to a vibrant local representation. The event also confirmed a maturity milestone for Asia’s largest trading event, organized annually, and jointly by Financial Magnates, and FX168. The event lived up to its billing by showcasing the latest global investor trends, in a region witnessing rapid financial markets growth, riding on the back of Asian Tigers incredible social-economic transformation.  

SGX

During the week, Singapore Exchange Ltd (SGX), the largest forex exchange in Asia, acquired a 20% stake in BidFX, a startup incubated by “Trading Screen“ to improve its  FX futures suite, and provision of quality workflow solutions to a fast growing FX market. For SGX, acquisition of BidFX is vital in building its “core pillars of growth” across asset classes, and the FX portfolio in particular. According to Loh Boon Chye, CEO of SGX, “acquisition of BidFX will consolidate both pools of liquidity from their suite of Asian FX Futures with that of OTC products offered by BidFX.” Additionally, there were incisive and illuminating presentations on blockchain technology, and the futuristic opportunities it offers FX markets in an era of 5G and AI.
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