Swedish transaction technology vendor and Stockholmsbörsen operator OM is to supply the Singapore Exchange (SGX) with an integrated trading platform based on its Click XT system.
Click XT supports multiple markets on a single platform, including all trading in equities and derivatives, fixed income and other commodities.
The new platform, which will be called SGX Quotation and Execution System for Trading (Quest), will support all trading from traditional securities and derivatives through to advanced cross-border trades.
Hsieh Fu Hua, CEO, SGX, says: "With SGX Quest, retail and institutional investors alike will gain even faster and seamless access to trading and hedging opportunities across the securities and derivatives markets."
The contract covers licensing, implementation and support of the system. SGX says it will invest S$16m to implement the new trading engine, which is scheduled to be operational in the derivatives market by the 3rd quarter of 2004, and the securities market by the first half of 2005