FX trading firms capitalize on interconnection via Platform Equinix®, solidifying Singapore’s position as a leading FX center in the world
Equinix, Inc. (Nasdaq: EQIX), the global interconnection and data center company, today announced that foreign exchange (FX) companies, including Euronext FX, Jump Trading, Lucera, Orient Futures and Spark Systems, as well as major banks with FX operations in Singapore, have joined Equinix’s FX ecosystem in Singapore. Equinix hosts a rich FX trading ecosystem within its International Business ExchangeTM (IBX®) data center campus in Singapore that is advancing the ongoing efforts by the Monetary Authority of Singapore (MAS) to make Singapore a regional e-trading hub for FX in the global US$6.6 trillion-a-day foreign exchange market1.
Ranked as the third largest FX center in the world since 2013 – with a 7.6 percent share of global FX volume in April 20191, the Singapore FX market continues to increase FX trading volumes. This is driving an increasing demand for reliable, low-latency interconnection solutions that will provide instant and direct access to key financial markets in the Asia Pacific region.
In line with MAS’ move to expand Singapore’s overall FX trading industry, Equinix’s enhanced FX ecosystem in the country will play a crucial role in supporting the thriving financial services industry by executing trades more efficiently, closing the millisecond gap between Singapore and its foreign counterparts where investors exchange US$640 billion of average daily trading volume.2 Equinix will also be able to strengthen FX e-trading capabilities and build a robust market infrastructure for Singapore to cement its position as one of the key epicenters for FX worldwide.
Equinix, Inc. (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most interconnected data centers. On this global platform for digital business, companies come together across more than 50 markets on five continents to reach everywhere, interconnect everyone and integrate everything they need to create their digital futures. Equinix.sg
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, the challenges of acquiring, operating and constructing IBX data centers and developing, deploying and delivering Equinix services; unanticipated costs or difficulties relating to the integration of companies we have acquired or will acquire into Equinix; a failure to receive significant revenue from customers in recently built out or acquired data centers; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; and other risks described from time to time in Equinix filings with the Securities and Exchange Commission. In particular, see recent Equinix quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
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1 Bank of International Settlements: 2019 Triennial Survey
2 Monetary Authority of Singapore: Singapore Retains Position as One of the Largest FX Centres Globally