12 December 2017
visit www.aciworldwide.com

Singapore Exchange to go all-electronic in October

25 July 2006  |  3149 views  |  0 Source: Singapore Exchange

Singapore Exchange Ltd (SGX) today announced that it will consolidate all trading of the SGX Euroyen (TIBOR and LIBOR) futures and options on SGX QUEST from Monday, 2 October 2006.

Accordingly, the open outcry trading facility at SGX Centre will be closed on Friday, 29 September 2006 at the end of the business day.

We will also take this opportunity to close the open outcry pit for SGX Eurodollar futures and options. These contracts will continue to be available via the Negotiated Large Trade facility. The mutual offset arrangement (MOS) with the Chicago Mercantile Exchange will continue for all MOS designated contracts, namely Eurodollar, Euroyen (TIBOR and LIBOR) and Nikkei 225 futures contracts.

The closure of the open outcry trading facility marks the successful conclusion of the electronic migration campaign that SGX started in November 2004. This brings to a close of almost two years of concerted effort by SGX and our market participants to synchronise the pace of our floor trading with the development of the electronic marketplace.

SGX CEO Hsieh Fu Hua said, "The success of our electronic migration campaign has been made possible, in no small part, by our trading community. We thank all market participants for their support in embracing electronic trading. This represents the way forward for us to enhance global participation and to build a more competitive and enduring marketplace."

The shift from open outcry to electronic trading was undertaken in response to the changing market dynamics. The various programmes and initiatives SGX put in place over the last two years have ensured a smooth transition. Electronic trading volume for our derivative products has increased over 170% from January to June 2006, as compared to the same period last year, through increased participation of both existing and new clients.

In building SGX as an Asian Gateway, we are committed to broadening our distribution capability globally and to facilitate trading of new and more sophisticated products on our electronic platform.

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.solutions.lexisnexis.comvisit www.aciworldwide.comvisit http://info.nice.com

Who is commenting?

Top topics

Most viewed Most shared
Revolut lets customers buy Bitcoin, Litecoin and EthereumRevolut lets customers buy Bitcoin, Liteco...
18691 views comments | 26 tweets | 22 linkedin
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11600 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
8212 views comments | 15 tweets | 21 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
6881 views comments | 8 tweets | 17 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
6267 views comments | 19 tweets | 10 linkedin

Featured job

Competitive package
New York City, NY - USA

Find your next job