Media & Industry News

SGX FX partners with Rand Merchant Bank (RMB) as its newest liquidity provider

17 May 2024

SGX FX, through its eFX trading solutions platform for global buyside institutions, partners with RMB, its newest South African liquidity provider on the FX platform.

SGX FX has today announced a partnership with Rand Merchant Bank (RMB), a leading African corporate and investment bank. This is RMB’s debut as a liquidity provider on SGX FX’s OTC FX buyside platform catering to the $7.5 trillion-per-day FX market.

RMB is recognised as the primary dealer by volume in USDZAR Spot FX, the collaboration opens up more opportunities for traders to engage in trading the South African Rand. As a top liquidity provider, traders who select RMB can streamline their FX dealings with sophisticated features including a selection of neutral mid, inventory skewed USDZAR spot FX Electronic Spot Pricing (ESP) and Request for Streams (RFS) as well as access to FX forwards and swaps through RFS.

Tim Hutchinson, Head of FX and Electronic Execution at RMB commented, “The unique liquidity proposition offered by RMB is an aggregate of our sizable onshore corporate and institutional franchises, which, in turn, allows for our electronic FX (eFX) pricing to be active and competitive during both South African and London business hours (7 am to 7 pm SA time).”

SGX FX’s Global Head of Sales, Roger Lee, added, “This collaboration is emblematic of a shared vision to support and advance the global FX trading environment, pairing SGX FX’s cutting-edge EMS solutions with RMB’s market expertise and liquidity.”


About SGX FX

SGX FX offers a gateway to the global FX ecosystem, anchored by the world’s most liquid Asian FX futures exchange together with cutting‐edge FX technology and workflow solutions from BidFX and MaxxTrader. SGX CurrencyNode, an FX electronic communication network, connects global participants anonymously to unique and deep OTC FX liquidity pools.

About RMB

Rand Merchant Bank (RMB) is a leading African corporate and investment bank (CIB) and part of the largest financial services group (by market capitalisation) in Africa – FirstRand Bank Limited (which is wholly owned by FirstRand Limited). We offer our clients innovative, value-added advisory, funding, trading, corporate banking and principal investing solutions. With a presence in 10 African countries, we have a significant footprint on the continent. We also have access to a network of retail banks, representative offices and branches across Africa, the UK, India and the US. At RMB we are passionate about solving problems for our clients by asking the hard questions. We challenge accepted thinking. We analyse and seek solutions beyond the obvious. We are innovative in our thinking and turn challenges into opportunities, while delivering on Traditional values. Innovative ideas. Our ability to think differently, our collaborative spirit, our client-centric solutions and our belief that great minds don’t always have to think alike, is what sets us apart.