SGX FX is set to combine its global liquidity and buy-side client base with CME Group’s EBS Market and FX Spot+ platform – which launched in April 2025.
Jean-Philippe Male
The move is aimed at meeting the growing demand for increasingly connected and interoperable execution.
Speaking to The TRADE, Vinay Trivedi, chief operating officer, SGX FX, explained: “By partnering with CME FX (EBS), we are enabling our sell‑side banks to leverage EBS’s eFIX service for superior benchmark order‑flow risk management.
“Integrated within our innovative, fully automated benchmark order‑flow workflow, this collaboration allows banks to capture more fixing flows, deliver best execution to buyside clients, access comprehensive analytics and a complete audit trail, and minimise undue risk – all within a single, seamless SGX FX platform.”
Specifically, the single, integrated workflow will be delivered via the BidFX and MaxxTrader platforms. Users on both venues “will gain mutual streamlined access and liquidity from SGX FX, EBS Market, FX Spot+ and EBS non-deliverable forwards (NDFs) and spot precious metals,” confirmed the firms.
Read more: CME to launch new all-to-all spot FX marketplace
Jean-Philippe Male, chief executive, SGX FX, asserted in an announcement that the partnership reflects a real, growing demand from its clients for greater connectivity across leading FX venues.
“By linking SGX FX’s global liquidity and buy-side network with EBS’s primary markets, we are expanding choice, improving execution outcomes and reinforcing our role as a core hub in the global FX ecosystem,” he added.
SGX FX clients are set to benefit from deepened liquidity choice and execution optionality across key FX products through the integration, also supported by firm, primary pricing and modern execution interfaces.
In tandem, CME Group participants will gain access to SGX FX’s global buy-side community.
Through the move, the two businesses will provide improved price discovery, enhanced execution flexibility and reduced market fragmentation, as well as advanced execution capabilities, and high-performance trading interfaces.
Paul Houston, global head of FX, CME Group, said: “Integrating with SGX FX allows us to extend the reach of EBS liquidity and Spot+ into a highly active global client base.
“Aligning our FX spot, NDF and spot precious metals markets with SGX FX’s workflows supports more efficient execution and strengthens the connectivity between major FX liquidity pools – all for the benefit of our mutual customers.”
Looking ahead, the firms have asserted that the partnership also serves as a key base for future connectivity between SGX FX and CME Group.
