Singapore Exchange to adopt Nasdaq technology in new trading and clearing platform



Singapore Exchange (SGX) will adopt a new generation of derivatives trading and clearing platform based on Nasdaq's Genium INET solution by the end of 2016, SGX said in a press release on Monday.

The upgraded platform, SGX TITAN, is designed to increase efficiency and lower trading and clearing costs for market participants, SGX said.

Industry standard access protocols, extensive self-help functionality and improved straight-through-processing will be the significant benefits from the upgraded infrastructure.

The core trading and clearing systems are based on Nasdaq's Genium INET solution, with rollout scheduled towards the end of 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 of 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." Enditem