SGX and Nasdaq stick together to upgrade
05 January 2015 Singapore
Image: Shutterstock
Singapore Exchange (SGX) has further strengthened its relationship with Nasdaq, employing new technologies to upgrade SGX’s derivatives trading and clearing platform in line with the growth of the derivatives market.
The new SGX TITAN system is designed to continue the innovation of new products and services, while increasing efficiency and reducing trading and clearing costs.
It will also bring access protocols in line with market standards, offer increased self-help functionalities and improve straight-through processing. With strengthened risk controls and additional safeguards, the system will also allow customers to manage trading positions 24 hours a day.
CEO of SGX Magnus Böcker 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.”
The system is based on Nasdaq Genium INET solution, and is scheduled to be rolled out towards the end of 2016. SGX has extended its management contract with Nasdaq for an additional six years in the securities and derivatives markets.
Lars Ottersgard, executive vice president of market technology for 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.”
The new SGX TITAN system is designed to continue the innovation of new products and services, while increasing efficiency and reducing trading and clearing costs.
It will also bring access protocols in line with market standards, offer increased self-help functionalities and improve straight-through processing. With strengthened risk controls and additional safeguards, the system will also allow customers to manage trading positions 24 hours a day.
CEO of SGX Magnus Böcker 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.”
The system is based on Nasdaq Genium INET solution, and is scheduled to be rolled out towards the end of 2016. SGX has extended its management contract with Nasdaq for an additional six years in the securities and derivatives markets.
Lars Ottersgard, executive vice president of market technology for 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.”
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