The Singapore Exchange (SGX) has contracted with Scandinavian trading technology vendor OMX for the development and implementation of an order management system.
The new OMS is slated for launch in the second half of 2007 and follows the successful deployment of SGX Quest, an integrated trading engine for SGX's securities and derivatives market which is based on OMX's Click XT technology.
OMX says it will work with Sweden's Orc Software to develop the OMS. Last year the exchange operator inked a deal with Orc to develop a new front office trading platform.
SGX and OMX have also signed an agreement to work together to identify and evaluate potential opportunities for trading, clearing and processing for SGX's market participants.
SGX says it is exploring the deployment of OMX's marketplace technology, including clearing and data dissemination systems.
Hsieh Fu Hua, CEO, SGX, says: "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."