The licence will enable the Group to offer Non-Deliverable Forward (NDF) trading in Singapore (SG1) and London (LD4).

The launch of NDFs will allow clients to hedge their FX exposure against non-convertible currencies on a Central Limit Order Book (CLOB), delivering transparent price discovery, deeper liquidity and efficient market structure, streaming real-time, firm limit order market data to all participants.

LMAX Group is committed to building an increasingly diversified offering to support growing demand from institutional investors for consistent, low-latency trading infrastructure, enhancing the FX ecosystem for global clients operating across Asia Pacific.

David Mercer, CEO, LMAX Group, said: “The Monetary Authority of Singapore is among the most progressive and innovative regulators globally. We look forward to a continued, symbiotic relationship with MAS as we progress our expansion plans and build out our cross-asset product offering in the region for the benefit of local customers and the broader, vibrant, Asia Pacific market.”

Matt DellaRocca, Head of Liquidity and Analytics, APAC, LMAX Exchange, added: “As Singapore becomes an increasingly important hub for global FX trading, we are delighted to have the support and recognition from MAS. We continue to expand our product offering to meet growing local demand for transparent price discovery and access to deep institutional liquidity and look forward to strengthening our institutional client relationships across Asia.”

Receipt of an RMO licence recognises LMAX Group’s compliance with the principles set out by the regulator in accordance with international standards and best practices, whilst upholding stringent conduct around compliance, risk management and corporate governance.