- Expansion
- Singapore trading desk
Programme Latitude · Initiative
Singapore trading desk
The desk executes the quantitative-markets book in Asian hours. Seven people sit on it from the middle of 2027: four traders, two execution analysts and a desk head. It holds execution limits of its own rather than borrowing them from George Town, which takes about eleven hours out of the decision chain on a position sized in Sydney.
Asia-Pacific origination has run ahead of Asia-Pacific execution since 2022. Positions sized in Sydney were worked in London or New York, and the price of that arrangement appeared in slippage rather than in a fee line. The desk closes the distance between the research that sizes a position and the hands that put it on.
The build costs US$11 million inside the US$32 million allocated to 2027. Order handling, allocation and best execution follow the group policies without local variation. Every model the desk uses is validated by the laboratory that opens beside it, and no order reaches the market from a model without a named person accountable for it.
Deliverables
- Seven desk staff at Raffles Quay Pavilion in Singapore by the middle of 2027, four of them traders.
- Execution limits granted to the desk head and reviewed by the Risk and Valuation Committee each quarter.
- Cover for the whole Asian trading session from Singapore, with handover to Zürich at the European open.
- Order handling and allocation records kept in the group format from the first trade onwards.
- Asia-Pacific execution cost measured against the 2026 baseline and reported to the Investment Committee twice a year.