SGX and OMX strengthen partnership
SGX and OMX strengthen partnership Singapore Exchange Limited (SGX) and OMX (OMX) today announced that they are strengthening their partnership, by working more closely together to provide technology solutions and services for the Singapore capital markets. This broadened partnership serves to identify and evaluate potential opportunities for trading, clearing and processing for SGXs market participants. This collaboration supports SGXs 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 OMXs suite of technology marketplace solutions, including clearing and data dissemination solutions, for SGXs marketplace. Following the successful development of SGX QUEST, an integrated trading engine for SGXs securities and derivatives market based on OMXs 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 OMXs expertise in the exchange industry, as a technology provider to over 60 exchanges in 50 countries and operator of the Nordic Exchange.. For more information, please contact: Ulrika Areskog, Communications Manager, OMX +46 8 405 6376 About OMX | OMX is a leading expert in the exchange industry. Through the Nordic Exchange in Copenhagen, Stockholm, Helsinki, Riga, Tallinn and Vilnius, OMX offers access to approximately 80 percent of the Nordic and Baltic securities market. Our integrated technology solutions span the transaction chain enabling efficient securities transactions for exchanges, clearing organizations, central securities depositories and other financial institutions around the world. OMX is listed on the Nordic Exchange in Stockholm, Helsinki and Copenhagen. For more information please visit www.omxgroup.com. About Singapore Exchange Limited | Singapore Exchange Limited (SGX) is Asia-Pacific's first demutualised and integrated securities and derivatives exchange. SGX was inaugurated on 1 December 1999, following the merger of two established and well-respected financial institutions - the Stock Exchange of Singapore (SES) and the Singapore International Monetary Exchange (SIMEX). On 23 November 2000, SGX became the first exchange in Asia-Pacific to be listed via a public offer and a private placement. Listed on its own bourse, the SGX stock is a component of benchmark indices such as the MSCI Singapore Free Index and the Straits Times Index. For more information, please visit SGX website: www.sgx.com About Orc Software | Orc Software provides advanced technology for trading, market making and brokerage, offering connectivity to over 100 markets across multiple asset classes. With Orc, customers can find more trading opportunities, develop more complex trading strategies and deliver higher profits on each trade. More than 200 customers in 24 countries rely on Orc Software for analysis, electronic and automated execution in equities, fixed income, currencies and commodities. Customers include investment banks, trading and market making firms, brokerage houses, institutional investors and hedge funds. Founded in 1987 and headquartered in Stockholm, Orc Software has 16 offices worldwide and is listed on the Nordic Exchange in Stockholm. For more information please visit www.orcsoftware.com. PDF
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