Singapore Exchange selects OMX for market data system upgrade

Source: OMX

OMX and Singapore Exchange Limited (SGX) announced today that SGX will launch an upgrade to its market data system, SGX DerivativesQuote, on 27 February 2008.

This solution is the first in the world to be powered by OMX's next generation distribution system for market data, Genium Market Info.

The new system enables SGX to enhance data dissemination services to market participants, allowing brokers and data vendors to offer more comprehensive data to their customers. Key benefits of the new system include its ability to support 10 levels of bid and ask sizes (compared to three previously), as well as calendar spreads data for all futures contracts on SGX (compared to only for Euroyen futures contract previously).

"We are delighted to launch this new data feed system from OMX," said Mr Muthukrishnan Ramaswami, Senior Executive Vice President & Chief Operations Officer, SGX. "It will strengthen investor confidence through enhanced market data availability and contribute to increased marketplace liquidity. In addition to faster capture and delivery of market data, the upgraded SGX DerivativesQuote also covers more timezones and products than the previous system."

SGX currently uses exchange technology from OMX for its trading operations. This new solution is part of SGX's ongoing efforts to raise the bar on the speed, capacity, scalability and robustness of its IT infrastructure to provide SGX's user base with a competitive advantage.

"This is an important milestone in our long and successful relationship with SGX, and further strengthens OMX's leading position in market data technology," says Markus Gerdien, President Market Technology at OMX. "The solution delivered to SGX puts them at the forefront for market data management, and will allow them to tap into new sources of revenue through value-added market data packages."

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