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Singapore Exchange(SGX) has selected TradingScreen to create the trading platform of the first OTC liquidity venue dedicated to Asian Bonds ("SGX BT"), which they recently announced. TradingScreen, the leading independent provider of liquidity, trading, and investment technology via SaaS, already supplies the technology and operates the Galaxy bond trading platform, an MTF, in Europe.
The Asian fixed income market has shown strong growth recently with issuance inAsia, excluding Japan, up almost a third to reach $137 Billion. This development has led to an increase in demand for an organized and efficient secondary market. At the same time, an increase in regulatory and capital adequacy requirements has made it harder for the traditional secondary market liquidity providers to meet demand. As a result, the market is searching for alternatives that could alleviate the liquidity and intermediation needs that have arisen.
TradingScreen's technology allows for rapid deployment of SGX BT infrastructure and supports multiple trading models. It also comes with built-in market surveillance functionalities.
TradeNext screens and TradeFast APIs are deployed in this project to Buy side and Sell side firms to create a complete ecosystem at the users' fingertips. Integrated with TradingScreen, SGX BT liquidity venue can be accessed via TradeSmart from anywhere through TradeNet, TradingScreen's proprietary network. With this new technology, traders everywhere will be able to experience a truly comprehensive Asian bond trading service. Thanks to this new "Ecosystem" approach, a market can be easily created in virtually any asset class, anywhere in the world.
Philippe Buhannic, CEO of TradingScreen, says, "We are very pleased to be working with SGX, a gateway for investment into Asia and a constant innovator, to launch a bond trading platform that will both respond to the current liquidity challenge and provide customers with additional choices and increased trading efficiency. We are looking forward to the development of the Asian bond market as one of the most important opportunities for the Buy Side community among the new tradable assets."
Muthukrishnan Ramaswami, the President of SGX, says, "Continuing with our tradition of innovation, we were keen to invest in technology that would equip the region with a versatile platform addressing the peculiarities of bond trading within the Asian markets. TradingScreen as our technology platform provider will help us achieve this and will allow us to adapt to clients' needs in the coming years while providing the best trading service for bonds in Asia."
SGX has signed a long-term contract with electronic trading solutions provider TradingScreen as the technology platform provider and will work with the industry to develop end-to-end automation to make trading in these instruments more efficient. TradingScreen has earned numerous awards for bringing a unique and extensive expertise in global multi-asset trading.
