Today in Singapore, OMX and Singapore Exchange (SGX) have signed an agreement to
implement a new clearing system to enhance SGX's derivatives and securities
trading capabilities.
Under the agreement SGX will implement a new system from OMX that will serve as
the clearing platform for SGX derivatives, securities and OTC clearings
businesses. The implementation of the new clearing system is part of SGX's
ongoing efforts to transform its IT infrastructure to match the demand of its
growing business and the needs of the marketplace. The system is targeted for
launch in 2009.
The internationally-proven system from OMX will enhance SGX's capability to
clear a wider range of products, and offer a new set of clearing services to its
members. The open interface feature of the OMX clearing system provides
straight-through-processing and boosts operational efficiency for both SGX and
its members.
“Our partnership with OMX includes our current QUEST-DT engine; the new data
feed system that is targeted for launch in first quarter of 2008, and the new
securities trading engine, QUEST-ST, in July 2008. We chose a clearing system
from OMX as it is proven technology that will meet the needs of our growing
clearing business. We are pleased to expand our relationship further with OMX by
leveraging on their technology and global experience,” said Mr Hsieh Fu Hua,
CEO, SGX.
“The fact that OMX has been selected to deliver clearing systems to SGX is an
acknowledgement of our position as a leading exchange technology provider, and
also of our strong relationship with SGX. We are proud to have a strong exchange
such as SGX among our customers, and look forward to continue building on our
long-term relationship,” said Magnus Böcker, CEO OMX.
For more information, please contact:
Carl Norell, OMX +46 8 405 66 93
About OMX | OMX is a leading expert in the exchange industry. The OMX Nordic
Exchange comprises over 800 companies including its alternative market First
North. OMX provides technology to over 60 exchanges, clearing organizations and
central securities depositories in over 50 countries. The Nordic Exchange is not
a legal entity but describes the common offering from OMX exchanges in Helsinki,
Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. OMX is a Nordic
Large Cap company in the Financials sector on the OMX Nordic Exchange. For more
information, please visit www.omxgroup.com.
