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SGX And GL Trade<SUP>™</SUP> Launch Multi-Market Access

Date 23/01/2002

Singapore Exchange Limited (SGX) today announced that its Derivatives Members can access overseas derivatives markets directly from the exchange's derivatives trading floor and electronic trading room via GL NET, a dedicated network by GL TradeTM. The network also allows SGX Derivatives Members to access the SGX securities market, via SGX Securities Members who have GL TradeTM facilities.

By co-operating with GL Trade, a leading provider of electronic trading solutions, SGX now provides its Locals and other professional traders the opportunity to trade, hedge and arbitrage between the exchange's derivatives contracts and those of the other derivatives markets. This initiative also enables SGX Derivatives Members and their customers to trade multiple markets simultaneously.

Mr Jimmy Ang, Executive Vice President and Head of SGX-DT said, "This partnership with GL TradeTM is a tangible representation of our continued commitment to better enhance the trading and risk management activities of our members by providing convenient access to markets that complement our derivatives products."

"Market participants located on the SGX Trading Floor and Electronic Trading Room will have the unique opportunity to perform high speed trading and make use of every opportunity to arbitrage between the SGX derivatives market and CME / TSE / OSE. GL NET will provide them instantaneous access and a full STP service" said Franck Peltier, Managing Director of GL Trade Asia Limited.

GL Trade will charge SGX Derivatives Members a reduced subscription rate for access via the GL Net connection, as compared to the usual commercial rates GL TradeTM charges for its institutional customers to access the foreign markets.