As a Recognised Market Operator (RMO) by the Monetary Authority of Singapore (MAS), LMAX Exchange Singapore will be offering FX NDF trading to institutional clients via Singapore (SG1) and London (LD4).

LMAX Exchange NDFs are traded on a central limit order book, delivering transparent price discovery and precise, consistent execution to all market participants, including funds, banks, proprietary trading firms, institutional brokers and asset managers.


  • Asian USD Crosses: INR, KRW, TWD, CNY, IDR, PHP (Q1’24)
  • LATAM USD Crosses: BRL, CLP, COP, PEN (Q2’24)
  • Tenors: 1 Month, EOM, IMM

  • LMAX FIX 4.2/4.4
  • LMAX Proximity, cross-connect at Equinix SG1 and LD4, PoP at Interxion and extranet/hosted services

  • RMO Member Brokerage Schedule for FX NDFs
    • Schedule operates on a flat fee basis.

    Maker/Taker schedule

    Taker commission ($ per $m) Maker commission ($ per $m)
    8 4

  • LMAX Exchange FX NDF factsheet ‐ download