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TradAir and SNAP Innovations to develop new FX solutions for Asia

First Published 19th July 2017

TradAir partners with Singapore based SNAP Innovations to develop FX solutions for Asian Markets with funding from Singapore Israel Industrial R&D Foundation.

Michael Lim, SNAP Innovations

Michael Lim, SNAP Innovations

TradAir, the provider of trading technology solutions, has partnered with Singapore based financial trading technology firm SNAP Innovations, to jointly develop innovative FX solutions, initially for Asian market participants.

The joint venture between TradAir and Snap Innovations is funded by the Singapore Israel Industrial R&D Foundation (SIIRD), a co-operation between the Singapore Economic Development Board (EDB) and the Israel Innovation Authority to support joint industrial R&D collaboration between Singapore-based companies and Israel-based companies across different industries.

The new solutions aim to enhance regional FX liquidity, enabling Asian market participants to aggregate, trade and become market makers between the currently fragmented OTC and exchange based regional FX liquidity pools.

Speaking of the partnership, Michael Lim, Director of SNAP Innovations commented: "Asia is a rapidly growing FX region, and Singapore is the 3rd largest centre globally. This is great opportunity to partner with TradAir to jointly develop innovative FX solutions that address challenges facing Asian market participants."