Trading firms rethink infrastructure proximity as Asia’s FX markets grow
Firms that treat local infrastructure as core to how they serve clients in Asia stand to benefit from Singapore’s growing role as an FX hub, writes Judy Goh.
Singapore’s position in global FX trading has grown significantly in the last few years. In the most recent BIS Triennial Central Bank Survey (April 2025), Singapore’s daily FX turnover rose to $1.485 trillion, up 60% from April 2022, giving it an 11.8% share of global FX trading volumes. Singapore emerged as the largest FX center in Asia and the third largest globally, after the UK and the US.
The latest published MAS Foreign Exchange Market Turnover monthly data shows peak daily turnover at $1
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