Singapore, 20 May 2008 -- Singapore Exchange Limited (SGX) and Singapore Telecommunications Limited (Singtel) today signed an agreement to provide traders with ultra low latency access to SGX securities and derivatives markets. This makes SGX the first exchange in Asia to offer sub-millisecond access to its trading engines.
The new service, “SGX Proximity Hosting Services”, allows SGX Members and their customers access to SGX’s trading engines more than four times faster than the current rate. SGX introduces this service in response to demand from a growing segment of algorithmic and proprietary traders who are beginning to establish strong presence in Asia.
The proximity hosting will be housed at Singtel’s award-winning EXPAN data centres. Leveraging Singtel’s network infrastructure, this service provides subscribers with the fastest available means to access SGX’s securities and derivatives trading engines.
Mr Gan Seow Ann, Senior Executive Vice President and Head, Markets at SGX said, “We are pleased to partner Singtel in delivering high-speed trading capabilities to our customers. This new service caters to the needs of algorithmic and high-velocity traders, where speed of access is crucial. The growth in this market segment will enhance SGX’s market liquidity and depth.”
Mr Bill Chang, Singtel’s Executive Vice President for Business, said: “Singtel is excited to deliver unprecedented trading capabilities to SGX and its trading firms. For the first time in Asia, trading at the speed of light has become a reality. This solution enables hundreds of financial transactions to be executed in the blink of an eye. It offers overseas financial institutions superior access to markets in Asia and it will attract more trading firms to Singapore and further strengthen our position as a major financial hub.”