This collaboration supports SGX’s ongoing efforts to renew and refresh its IT infrastructure and capabilities for trading and clearing, with the objective of raising overall efficiency and enhancing service quality to market participants. SGX is exploring the deployment of OMX’s suite of technology marketplace solutions, including clearing and data dissemination solutions, for SGX’s marketplace.
Following the successful development of SGX QUEST, an integrated trading engine for SGX’s securities and derivatives market based on OMX’s technology, SGX intend to work with OMX on the delivery of an order management system. This is expected to be launched in the second half of 2007. The development work on SGXTrade will be used as the basis for further development. Here OMX plan to work together with Orc Software, a leading provider of advanced technology for trading and market making. This cooperation would be part of the recent agreement between OMX and Orc Software around front-end solutions.
Mr Hsieh Fu Hua, SGX CEO said, “In building SGX as an enduring marketplace, it is imperative that our IT infrastructure and capabilities stay relevant to meet the demands of higher volumes and more varied product features. We look forward to providing integrated access to the securities and derivatives trading market, and are happy that our partner, OMX, shares the same vision of convergence in our marketplace.”
Mr Magnus Böcker, OMX CEO, said, "We are indeed pleased to deepen our partnership with SGX. This is an acknowledgement of OMX’s expertise in the exchange industry, as a technology provider to over 60 exchanges in 50 countries and operator of the Nordic Exchange.”.
