Singapore Exchange Limited (SGX) is pleased to announce today that it will be launching a new access platform to its securities market and data.
The new access platform, SGXAccess API1, will offer latency improvements of more than 10 times, achieving up to an average of 16 milliseconds for order acknowledgments. It will be an alternative to the existing SGXAccess FIX2 solution, which will continue to be offered. SGXAccess API utilises OMNet API, the native protocol of SGX's Quest-ST securities trading engine.
In conjunction with the new access platform, SGX will also be launching a new service called Securities Market Direct Feed, which information vendors can leverage for algorithmic trading. These vendors will be able to connect directly to SGX's securities trading engine for delivery of market data that is up to 60% faster than the current SecuritiesBook feed, which continues to be available. The new SGX Securities Market Direct Feed will also show the full list of transactions and market depth of orders in the engine.
Both services are scheduled for launch on 27 April 2009.
"This new access platform and data feed will cater to the needs of all participants who want faster access to our securities market and data, including our growing community of algorithmic traders. SGXAccess API will be offered at a more competitive pricing structure. This is part of our commitment to meeting the expectations of our customers," said Mr Gan Seow Ann, Senior Executive Vice President and Head of Markets at SGX.
This is the latest of SGX's initiatives that benefit high-velocity and algorithmic traders. In May 2008, SGX launched its Proximity Hosting Service to provide traders with ultra low latency access to its securities and derivatives markets - making it the first exchange in Asia to offer sub-millisecond network access to its trading engines. This service allows SGX Members and their customers access to SGX's trading engines more than four times faster than the normal speed.
SGX also upgraded its securities and derivatives trading engines in July and December 2008 respectively, offering increased capacity and trading functionalities. This was followed by an agreement between SGX and NASDAQ OMX last month to study a migration plan to GENIUM, NASDAQ OMX's next generation platform offering ultra low latency and world leading performance.
1 API stands for application programming interface.
2 FIX stands for Financial Information eXchange.