(Bloomberg) The $5.1 trillion-a-day foreign exchange market’s newest upstart trading venue has big ambitions to bring more of the world’s currency transactions to Asia. It also has some big-name backers.
Singapore-based Spark Systems will start a live trial of its currency platform in March, hoping to lure traders with lower fees than existing offerings in the city. The firm won financial support from Singapore’s central bank and is part-owned by Dymon Asia Capital, the $5.5 billion investment manager whose currency hedge fund returned 56 percent last year.
