Paul Golden from Euromoney talks with Jon Vollemaere (R5), Michael Go (Thomson Reuters), Harpal Sandhu (Integral), Geoff Ward (NEX), Dongyal Lim (CMC Markets) and Emmanuel Pelle (BSO) about how Singapore is responding to the threat posed by the growth of Hong Kong and Shanghai – all competiting to be Asia’s largest FX trading centre.
Some of Jon’s comments –
“Singapore is…the second largest market for offshore renminbi, behind Hong Kong.”
“Overtaking Tokyo was just the start; the big question is will it continue to stay in front of Shanghai? lexapro online pharmacy Three years ago we said ‘yes’, but it might well be a different story by 2020.”
“Competition from China’s financial hub will be stiff, but regulation, language and location have all played a part in the rise of Singapore and will continue to do so.”
“The Monetary Authority of Singapore is a big supporter of financial technology, which will drive further adoption of eFX the region, with initiatives like business accelerator the FinLab.’
To see the complete article click https://www.euromoney.com/article/b13r9253hs601l/singapore-staves-off-threats-to-its-fx-crown