SGX Launches New Multi-Matching Trading Engine from Nasdaq

The trading engine was launched for the exchange’s securities markets via the Nasdaq Financial Framework.

The Singapore Exchange (SGX) has now gone live with a new multi-matching trading engine for its securities market via the Nasdaq Financial Framework, Nasdaq announced this Friday.

The SGX went live with the engine last month on June 3, the statement released today said. With the new multi-matching trading engine, the Asian exchange has been able to upgrade its technology.

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Because of this, SGX now has more unified operations, messaging, and data infrastructure. This will allow the exchange to scale-up its offering by adding new products to its securities market. SGX and Nasdaq have been technology partners for more than a decade, having first established a partnership back in 2003.

Vincent Low of SGX
Vincent Low, Head of Software Delivery and Integration at SGX
Source: LinkedIn

Commenting on the announcement, Vincent Low, the Head of Software Delivery and Integration at SGX said: “It was an excellent collaboration working with our industry partners comprising of trading members, clearing members, and data vendors to move towards a new securities trading engine.

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“With this upgrade, SGX has standardized the API messages for both cash and derivatives products of our Equities business, bringing connectivity and maintainability convenience to our customers’ Order Management Systems. With a more robust and efficient platform, we are also able to enhance our market offerings to our customers.”

Singapore to be Asia’s liquidity hub

Singapore has the current aim of being an FX and liquidity hub for Asia. As Finance Magnates reported, the Monetary Authority of Singapore (MAS) has been working towards developing the country into a global FX price discovery and liquidity center in the region.

A report by Bloomberg earlier this year highlighted that the country is well on its way to achieving this, as regulatory authorities are making headway in encouraging firms to start building trading engines in the country. SGX has also been a part of this movement.

Robert Frojd of Nasdaq
Robert Frojd, Managing Director at Nasdaq
Source: LinkedIn

“SGX continues to be at the forefront of adopting new innovations and technologies to better serve its customers and strengthen its capital markets ecosystem,” added Robert Frojd, Managing Director, South Asia, Southeast Asia & Pacific, Nasdaq. 

“By upgrading its securities trading engine through the Nasdaq Financial Framework, SGX gains access to the latest in technology developments and business applications, while being able to bring new functionality to market more rapidly. We are proud to support SGX on their exciting journey of evolving their market infrastructure for the future.”

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