Stock market operator Singapore Exchange (SGX) has said it will roll out a new, state-of-the-art trading platform called QUEST which is supplied by Sweden’s OMX AB in July next year, allowing it to handle bigger volumes and introduce new derivatives products.
QUEST, which will be in place in July, can theoretically handle up to two billion transactions a day, compared with the 550,000 daily transactions SGX currently handles.
SGX will also replace the 17-year-old Securities Order Processing System (SESOPS) next year as part of the upgrading programme that, it said, will put the exchange on a par with other global markets.
“This whole project… will take Singapore’s securities trading infrastructure to what I would call absolutely… state-of-the-art,” M. Ramaswami, the SGX head of operations and technology, told reporters.
“It could put us on par with pretty much anywhere in the world in terms of market infrastructure… We will have a much more capable trading engine which will allow many kinds of instruments to come into the market.”
