Marketnode Announces Major Partnerships Ahead of Its Key Product Launches

Marketnode is a joint venture of Singapore Exchange and Temasek.

Singapore Exchange announced today that Marketnode, a Singapore Exchange (SGX) and Temasek, a digital asset joint venture, has collaborated with key partners including some of the leading names in the global financial sector ahead of its product launch focused on digital issuance services, ESG bond data, and digital asset depository infrastructure.

According to an official press release shared with Finance Magnates, Marketnode has formed partnerships with Barclays, BNP Paribas, BNY Mellon, Citi, Deutsche Bank, HSBC, Orient Securities International, Standard Chartered, Societe Generale and UOB.

The new partners will work closely with Marketnode to accelerate the usage of its platform. Partners will also explore opportunities for product expansion beyond fixed income. SGX highlighted that the fixed income issuer service platform of Marketnode will be launched in the fourth quarter of 2021.

“We continue to embrace the paradigm shift that the financial industry is undergoing with the emergence of new technologies. By collaborating with banking and technology partners, we are creating network effects and building scale and capability that can be applied cross-assets within a single platform, for the benefit of banks, issuers and investors. We welcome all market participants to join Marketnode in playing a role to accelerate the digital transformation of capital markets,” Lee Beng Hong, Head of Fixed Income, Currencies and Commodities (FICC) at SGX commented on the recent announcement.

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Earlier this month, SGX and SET announced the expansion of their partnership with Thailand-Singapore DR Linkage.

Demand for Digital Products

In the recent press release, SGX highlighted a jump in demand for products related to digital assets. In February 2021, Marketnode collaborated with Covalent Capital and since then, both parties have launched integrated offerings such as auto-ISIN generation and digital bond straight-through processing (STP).

“The participation of these banks onto the Marketnode platform is a significant milestone. It further validates the market for end-to-end infrastructure and services for digital assets. Their contributions towards enhancing the platform’s offerings and capabilities will be invaluable. We look forward to welcoming more market participants as increased industry involvement will foster scale, robustness and spur greater capital markets infrastructure innovation,” Pradyumna Agrawal, Managing Director, Blockchain at Temasek, commented.

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