Do not invest more money than you can afford to lose.
London-based R5, an emerging marketplace for local market FX trading owned by R5FX Ltd., has went live in Singapore after receiving an authorization from the Monetary Authority of Singapore (MAS), the company said on Friday.
The company has strategically chosen Singapore to enter the Association of Southeast Asian Nations (ASEAN) market due to the significant volume of emerging and local market currencies dealt in Singapore.
“Many of our Singapore clients were involved at the inception of R5, seeking an electronic alternative for NDFs and emerging market FX to better service their customers and hedge their risk,” said R5 CEO Jon Vollemaere. “It’s their market, and our job to provide new sources of liquidity, as well as improve the market structure. With their input we have developed our purpose-built platform, to which we will be adding more emerging market currencies and new services throughout 2016.”
R5 initially started offering online non-deliverable forward (eNDF) trading serviced in London in the fourth quarter of 2015. It is a type of electronic liquidity pool which provides an alternative for anyone trading in forex, with a focus on emerging markets.
R5FX falls under the regulation of the UK Financial Conduct Authority (FCA).