SGX Integrates MilleniumIT’s PostTrade Platform, Augmenting CDP Capabilities
- The PostTrade platform will help enable SGX’s CDP to implement global market practices, such as real time STP, among others.
Trading technology venue MillenniumIT has had its PostTrade platform integrated into the Singapore Exchange’s (SGX) Central Depository Pte. Limited’s (CDP) operations, according to a London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term (LSE) statement.
MillenniumIT caters to a number of exchange groups, including the LSE, Borsa Italiana, Oslo Børs,Turquoise, the London Metal Exchange (LME), and the Johannesburg Stock Exchange (JSE), including others. Its PostTrade platform helps facilitate real time clearing and settlement for the institutional clients and exchange groups. Its PostTrade platform was initially launched in Europe back in 2013.
The new integration will see this platform supported by SGX’s CDP business, and will aim to augment the group’s securities clearing and connectivity capabilities, as well as serving as a replacement for existing CDP’s settlement and depository systems at SGX.
Consequently, the PostTrade platform will also help enable SGX’s CDP to implement global market practices, such as real time Straight-Through-Processing (STP) Straight-Through-Processing (STP) Straight-Through-Processing (STP) is a type of execution, where the broker is forwarding the bulk of the flows it receives to the market. This is mostly to help speed up their respective transaction processing times.STP provides a means of ensuring that orders are processed in a “straight-through” fashion, devoid of delays and requotes. As its name suggests, the primary rational of STP is to allow brokers to have the same information be streamlined through a process across multiple points. Intui Straight-Through-Processing (STP) is a type of execution, where the broker is forwarding the bulk of the flows it receives to the market. This is mostly to help speed up their respective transaction processing times.STP provides a means of ensuring that orders are processed in a “straight-through” fashion, devoid of delays and requotes. As its name suggests, the primary rational of STP is to allow brokers to have the same information be streamlined through a process across multiple points. Intui Read this Term) and industry messaging standards, i.e. FIXML and ISO20022.
According to Mack Gill, Chief Executive Officer (CEO) of MillenniumIT in a recent statement on the live trading implementation: “We are delighted that SGX has gone live with Millennium PostTrade and we look forward to continuing our close working relationship to further deliver leading edge technology and improved functionally to support the on-going transformation of SGX’s clearing, settlement and depository business. We are committed to leveraging new technology to drive a new real-time clearing paradigm across the global post trade industry.”
“With this implementation, our brokers’ back-office systems have been enhanced from indirect to direct communication with SGX for all post-trade processing. The ongoing transformation of SGX’s post trade environment will increasingly enable us to deliver greater levels of standardisation and efficiencies for our customers,” added Nico Torchetti, SVP & Head of Market Services, SGX, in an accompanying statement.
Trading technology venue MillenniumIT has had its PostTrade platform integrated into the Singapore Exchange’s (SGX) Central Depository Pte. Limited’s (CDP) operations, according to a London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term (LSE) statement.
MillenniumIT caters to a number of exchange groups, including the LSE, Borsa Italiana, Oslo Børs,Turquoise, the London Metal Exchange (LME), and the Johannesburg Stock Exchange (JSE), including others. Its PostTrade platform helps facilitate real time clearing and settlement for the institutional clients and exchange groups. Its PostTrade platform was initially launched in Europe back in 2013.
The new integration will see this platform supported by SGX’s CDP business, and will aim to augment the group’s securities clearing and connectivity capabilities, as well as serving as a replacement for existing CDP’s settlement and depository systems at SGX.
Consequently, the PostTrade platform will also help enable SGX’s CDP to implement global market practices, such as real time Straight-Through-Processing (STP) Straight-Through-Processing (STP) Straight-Through-Processing (STP) is a type of execution, where the broker is forwarding the bulk of the flows it receives to the market. This is mostly to help speed up their respective transaction processing times.STP provides a means of ensuring that orders are processed in a “straight-through” fashion, devoid of delays and requotes. As its name suggests, the primary rational of STP is to allow brokers to have the same information be streamlined through a process across multiple points. Intui Straight-Through-Processing (STP) is a type of execution, where the broker is forwarding the bulk of the flows it receives to the market. This is mostly to help speed up their respective transaction processing times.STP provides a means of ensuring that orders are processed in a “straight-through” fashion, devoid of delays and requotes. As its name suggests, the primary rational of STP is to allow brokers to have the same information be streamlined through a process across multiple points. Intui Read this Term) and industry messaging standards, i.e. FIXML and ISO20022.
According to Mack Gill, Chief Executive Officer (CEO) of MillenniumIT in a recent statement on the live trading implementation: “We are delighted that SGX has gone live with Millennium PostTrade and we look forward to continuing our close working relationship to further deliver leading edge technology and improved functionally to support the on-going transformation of SGX’s clearing, settlement and depository business. We are committed to leveraging new technology to drive a new real-time clearing paradigm across the global post trade industry.”
“With this implementation, our brokers’ back-office systems have been enhanced from indirect to direct communication with SGX for all post-trade processing. The ongoing transformation of SGX’s post trade environment will increasingly enable us to deliver greater levels of standardisation and efficiencies for our customers,” added Nico Torchetti, SVP & Head of Market Services, SGX, in an accompanying statement.