Orc Software (SSE: ORC), the leading global provider of technology and services for advanced trading in financial instruments, today announced a new market access to the Singapore Mercantile Exchange (SMX).
SMX, the first pan-Asian multi-product commodity and currency derivatives exchange, went live for trading on 31st August 2010. Its electronic platform offers multi-currency and multi-asset clearing, trading, and pricing for contracts with guaranteed settlement and delivery. The first phase of product launches include two leading crude oil benchmarks, Brent Crude priced in Euros and West Texas Intermediate (WTI) Crude Oil, its maiden currency pair, Euro-US Dollar Currency Futures, and the first Gold Futures Contract in Singapore to be settled via physical delivery.
"The successful launch of SMX will provide market players in Asia the flexibility for unrestricted cross-border trading in futures, options and other derivatives across multiple asset classes," said Thomas J. McMahon, Chief Executive Officer of SMX.
"We are delighted to work with leading vendors like Orc who we see as being critical to facilitating the advanced trading of our members and its clients. Orc's SMX access clearly demonstrates its leadership in developing best-in-class electronic trading technology," added Mr. McMahon.
"We wish the SMX team every success with the launch of the exchange and are pleased to be able to offer direct access to the market as part of our portfolio of global connectivity and trading solutions," said Greg Chambers, President, Orc Software, Asia Pacific.