"We are excited to enter into this co-operation agreement with Bloomberg which will extend SGX's derivatives products' reach to the global marketplace", said Mr Thomas Kloet, CEO of SGX. Besides enhancing the ease and speed with which trades are conducted, this gateway is also aimed at facilitating 24-hour trading, eventually, bringing greater depth and market transparency and increasing the attractiveness of Singapore as a global derivatives marketplace.
Slated to be operational by the third quarter of this year, this electronic platform will allow order entry, execution and trade confirmations, giving over 250,000 investment professionals using 130,000 Bloomberg desktop terminals around the world fast and easy access into SGX-DT's central order book.
"We are delighted to have joined forces with the Singapore Exchange", said Michael R. Bloomberg, CEO and founder of Bloomberg LP. "This development is a significant one as we continue our efforts to help our clients access 24 hour global liquidity, full price transparency, and better trading opportunities".
"We are seeing a continuing trend in Asia where most of our clients wish to use electronic trading solutions ", said Alex Bruce, regional head of Bloomberg LP. "The ability to trade SGX derivatives contracts from any Bloomberg terminal is a major step forward in this evolution".
This partnership with SGX-DT joins a string of other partnerships Bloomberg has formed with global exchanges in the US and Europe to create common electronic trading platforms via the Bloomberg desktop terminal.
