Singapore Exchange to open new electronic trading centre

Singapore Exchange(SGX) is to open a new global electronic trading centre (GETC) featuring improved facilities for online derivatives dealing.

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Singapore Exchange to open new electronic trading centre

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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.

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