Singapore Exchange(SGX) is to open a new global electronic trading centre (GETC) featuring improved facilities for online derivatives dealing.
The new centre will provide traders direct access to the exchange's derivatives market and approved overseas markets via order-routing services. This will enable them to trade other derivatives and securities instruments from one location and through one platform.
Traders will be given a choice of using either a GLWIN SGX ETS trading workstation, a patsystems SGX ETS trading workstation or a corporate member firm's proprietary order-routing service.
Thomas Kloet, SGX CEO, says he hopes the new centre will attract new liquidity providers to the Singapore markets. He adds: "Traders using the facility will enjoy the convenience of one-stop access to global markets, as well as the favourable tax arrangements for all SGX Members trading global markets from Singapore."
Initially, the Exchange will set up 108 Internet-ready trading desks equipped with 4 LCD monitor screens at the new GETC for its Locals. SGX expects to start trading at the new centre on 28 October 2002.