SGX migrates securities to Nasdaq OMX trading system

Source: Singapore Exchange

Singapore Exchange Limited (SGX) is pleased to announce that it today moved its securities market to a new, enhanced trading system.

The new trading engine, Quest-ST, replaces Central Limit Order Book (CLOB), which has served the industry for 19 years since it was launched in March 1989.

QUEST-ST, a Nasdaq OMX trading engine, offers functionalities to support the introduction of a wider range of products and will facilitate faster implementation of new products and services. It has much higher capacity limits than CLOB to better meet the needs of algorithmic and high-velocity traders, who are beginning to establish a strong presence in Asia.

"Quest-ST is an integral part of our technology roadmap, and marks another milestone in our continuous journey of infrastructure renewal. We would like to thank our member firms, market participants and Nasdaq OMX, for their support in implementing Quest-ST," said Mr Muthukrishnan Ramaswami, Senior Executive Vice President and Chief Operations Officer of SGX.

All SGX member firms are able to trade on Quest-ST using their Order Management Systems (OMS) connected to SGXAccess - an open interface which allows member firms to trade in Singapore's securities market from anywhere in the world.

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