SINGAPORE, Dec 29, 2014 - (ACN Newswire) - Singapore Exchange will upgrade its derivatives trading and clearing platforms to further strengthen Singapore's market infrastructure and to support the strong volume growth in SGX's derivatives business.
The upgraded platforms, SGX TITAN, will ensure continued agility and innovation in terms of new products and services offered by SGX. It is designed to increase efficiency and lower trading and clearing costs for market participants. Industry standard access protocols, extensive self-help functionality and improved straight-through-processing will be the significant benefits from the upgraded infrastructure. SGX already offers the longest trading hours of any Asian exchange, and SGX TITAN will strengthen its risk controls and system safeguards to help market participants manage their trading and clearing positions on a 24-hour basis. The core trading and clearing systems are based on Nasdaq's Genium INET solution, with rollout scheduled towards the end of calendar year 2016.
In addition, SGX will extend its engagement with Nasdaq for a further six years to support and maintain the Nasdaq systems in its securities and derivatives markets.
Magnus Bocker, CEO, SGX, said, "We see strong and continued demand for SGX's Asian derivatives, and aim to provide ever better solutions to fulfil these unique and evolving needs. Innovation continues to drive growth, and our partnership with Nasdaq Technology will be an important pillar of our success."
Lars Ottersgard, Executive Vice President, Market Technology, Nasdaq, said, "We are proud to continue our longstanding relationship with SGX and partner with them as they continue to build and strengthen their core market technologies. In particular, the new migration of the exchange's derivatives markets to our Genium INET platform meets SGX's demand for enhanced performance and systems resiliency, and allows for scalability to support new areas of interest and growth. We look forward to a very positive future with SGX."
About Singapore Exchange (SGX)
Singapore Exchange (SGX) is the Asian Gateway, connecting investors in search of Asian growth to corporate issuers in search of global capital. SGX represents the premier access point for managing Asian capital and investment exposure, and is Asia's most international exchange with about 40% of companies listed on SGX originating outside of Singapore. SGX offers its clients the world's biggest offshore market for Asian equity index futures, centred on Asia's three largest economies - China, India and Japan.
In addition to offering a fully integrated value chain from trading and clearing, to settlement and depository services, SGX is also Asia's pioneering central clearing house. Headquartered in Asia's most globalised city, and centred within the AAA strength and stability of Singapore's island nation, SGX is a leading Asian counterparty for the clearing of financial and commodity products. For more information, please visit www.sgx.com.
Marketing & Communications
+65 6713 7716
Marketing & Communications
+65 6236 8139
Dec 29, 2014 13:00 HKT/SGT
Source: Singapore Exchange (SGX)
Topic: New Product
Sectors: Daily Finance, Daily News
From the Asia Corporate News Network
Copyright © 2019 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.