SGX has worked closely with the industry to ensure effective switch-over from the old derivatives trading engine, SGX ETS (Electronic Trading System), to SGX Quest, and that trading was conducted smoothly today.
The launch of SGX Quest in the Exchange's derivatives market completes the first phase of developing an integrated trading engine for its securities and derivatives market. SGX Quest will allow market participants to trade a wider range of derivatives instruments electronically on SGX, and accelerate the progress towards introducing more electronic-based derivatives products. SGX Quest is developed by OMHEX, a leading provider of marketplace technology, processing and outsourcing solutions.
Mr Hsieh Fu Hua, SGX CEO said, "The successful launch of SGX Quest for derivatives trading on our market is a major milestone for the Exchange. SGX Quest will offer us a platform for global connectivity and broaden our reach to market intermediaries and investors."
OMHEX CEO, Magnus Böcker, said, "SGX has shown tremendous commitment in bringing SGX Quest to an international marketplace within a short time frame. In fact, this is one of the fastest deliveries to date, reflecting the efficiency and determination to provide superior customer service. We are indeed pleased to partner SGX in this endeavour."
Besides SGX derivatives clearing member firms, four front-end software vendors, GL Trade, Patsystems, Nyfix and RTS have established connectivity to SGX QUEST. ORC Software is in the final stage of establishing connectivity.
