trueEX Expands in Asia-Pacific After Record Year

NEW YORK, Feb. 27, 2018 /PRNewswire/ -- trueEX, the leading independent provider of derivatives markets, has opened a Singapore office to provide trading access for interest rate swaps denominated in 28 currencies, including 11 in the Asia-Pacific region. trueEX is now available to traders in Singapore, Australia and New Zealand in accordance with all local regulations in each respective region. The move follows a 460% increase in trading on its swap execution platform in 2017.

On the back of significant volume growth, dealer and buy-side adoption of Mexican (MXN) TIEE and Brazilian (BRL) DI swaps, trueEX is expanding its platform and presence in APAC. MXN TIEE swaps grew 284% and BRL swaps grew 187% from 2016 to 2017.

Among the 28 currencies that are available via trueEX are AUD, CNY, HKD, INR, JPY, KRW, MYR, NZD, SGD, THB and TWD in the Asian-Pacific time zone, as well as throughout US and European trading hours – all via one global connection.

The opening of trueEX's Singapore office comes right after the Monetary Authority of Singapore (MAS) proposed new rules to enhance market transparency, requiring that OTC derivatives be traded on organized markets. They plan to seek an equivalence determination from the US.

"With the tremendous growth in support of the trueEX platform, we've seen a significant increase in demand for trading in Latin American, European, and now Asian-Pacific currencies," said Christopher Yoshida, Chief Strategy, Sales & Marketing Officer of trueEX LLC. "From the outset, the Asian markets have been a key component of our long-term strategy. Now that it's become a reality we're able to not just meet the needs locally, but provide a gateway between participants in Asia-Pacific and the rest of the world."

"There is a growing demand across the region for more liquid local currency hedging instruments," said Andrew Baker, head of trueEX's Singapore office. "Providing these services is a natural extension of our 'client first' approach, which has led to us to developing a significant global footprint across 28 currencies and multiple protocols across all the major time zones."

trueEX has been at the forefront of innovation in the global swaps market. Clients are able to use next-generation technology to transact in traditional swaps markets with the added benefit of automated execution and clearing. Its venues provide a direct connection between clearing houses, clearing firms, and participant firms and can be accessed through a client GUI (Graphical User Interface), FIX API (Application Programming Interface), or through various leading independent electronic platforms certified with trueEX.

About trueEX
trueEX LLC operates the first exchange approved by the Commodity Futures Trading Commission (CFTC) as a Designated Contract Market (DCM) for swaps. As an exchange and registered swap execution facility (SEF), trueEX has executed over $13.1 trillion in trading volumes and $21.7 trillion in post-trade processing services since its launch. Its SEF provides request-for-quote (RFQ) trading protocols and a proprietary portfolio terminations and compactions (PTC) system for the efficient trade management of existing positions through direct connectivity to multiple clearing houses. trueEX has been recognized as one of the industry's leading and most innovative companies, winning OTC Trading Platform of the Year and SEF of the Year at the Risk Awards, as well as SEF of the Year at both the GlobalCapital and GlobalCapital Americas Awards. trueEX has also been featured on the Forbes Fintech 50 and Institutional Investor Tech 50 rankings of the most innovative fintech companies. The Company is based in New York and enables the trading of interest rate swaps by all market participants. It will add other liquid derivatives to its portfolio in the near future.

https://www.trueex.com/

SOURCE trueEX

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