SGX is Asia's first demutualised and integrated securities and derivatives exchange.

"We congratulate SGX on the successful launch of the new trading system. SGX is already one of the region's fastest growing exchanges and we look forward to being part of its continued development," said Magnus Bocker, President of NASDAQ OMX. He added, "This roll-out enhances our strong position in Asia, where we are currently powering more than ten exchanges."

In addition to the equities trading engine, NASDAQ OMX will deliver a clearing platform for SGX derivatives, securities and OTC clearings businesses in 2009. Earlier this year, SGX launched an upgrade of its market data system, SGX DerivativesQuote, the first solution in the world to be powered by NASDAQ OMX's next generation distribution system for market data, Genium Market Info.

Quest-ST offers functionalities to support the introduction of a wider range of products and will facilitate faster implementation of new trading products and services. It has higher capacity limits than the former system, to better meet the needs of algorithmic and high-velocity traders who are beginning to establish a strong presence in Asia. NASDAQ OMX is SGX's partner for the design and implementation of the new equities trading solution.

"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.

Foreign companies from over 20 countries, some from Europe and North America, are listed on SGX. With over one-third of the companies listed on SGX from overseas, SGX is a truly international exchange and listing hub representing a full spectrum of industries. Through a growing suite of products, SGX is also rapidly emerging as Asia's offshore risk management centre.