Singapore Exchange Limited (SGX) and the Nasdaq OMX Group, Inc. (Nasdaq:NDAQ) announced today that they have signed a Migration Study Agreement.
Under the agreement, SGX and NASDAQ OMX will undertake a detailed study of a migration plan to GENIUM, NASDAQ OMX's next generation trading platform.
"We have a successful and long-standing relationship with NASDAQ OMX, and this agreement represents a natural extension of our partnership," said Mr Hsieh Fu Hua, Chief Executive Officer of SGX. "Migration to GENIUM for our trading solution would result in SGX having ultra low latency and world leading performance. This will support our initiatives to attract more high velocity and algorithmic traders, while offering our existing customers the convenience of using the same electronic interface."
"We are excited to sign this agreement with SGX and further strengthen our partnership," said Mr. Magnus Bocker, President of NASDAQ OMX.
"Through this joint study, SGX and NASDAQ OMX will gain the insight and knowledge necessary to successfully migrate SGX trading to our GENIUM platform."