Singapore Exchange (SGX) today announced the successful launch of SGX Bond Pro, the first OTC trading venue dedicated to Asian Bonds, which is powered by TradingScreen's Galaxy global fixed income platform infrastructure.
TradingScreen, the leading independent provider of liquidity, trading, and investment technology via SaaS, was selected as SGX Bond Pro's technology platform provider in 2014, and provides infrastructure available in SaaS or as an implemented application.
SGX Bond Pro connects buyers and sellers of Asian bonds and provides them with multiple trading protocols that cater to their liquidity needs. The trading protocols were developed in consultation with the industry to facilitate how participants, including accredited investors such as global asset managers, private and investment banks, want to access liquidity.
SGX Bond Pro has additional functionality designed to achieve greater efficiencies in trading and settlement. With sophisticated tools to access liquidity through quote-driven and order-driven trading protocols including auctions, crossing, RFQ and RFS, the platform adapts uniquely to the new liquidity reality of the fixed income market. It also adapts to the particular characteristics of Asian bond market, which is the largest growth market for fixed income securities.
All market participants have the choice to access the new venue through multiple interfaces from a high level, fast FIX API, a state-of-the-art, intuitive award winning HTML5 user interface.
Muthukrishnan Ramaswami, the President of SGX, said, "SGX Bond Pro is indicative of our strategy to innovate and build infrastructure where there is a clear market demand. It also demonstrates our ability to develop solutions that address the liquidity challenge in the Asian bond market. We continue to receive positive feedback from the market and we hope that a strong community will anchor itself around this innovative platform. The partnership with TradingScreen has offered SGX the opportunity to offer a world class trading venue in record time."
Philippe Buhannic, CEO of TradingScreen, says, "This launch is the start of a revolution in fixed income trading in Asia and represents a significant milestone in the fixed income market, as well as, a technology breakthrough. The single trading model that the market has been using over the past decade has proved limited in handling the demands of the buy-side. In the future, liquidity management will become central to the market evolution and SGX Bond Pro has been launched as a significant liquidity solution. We are confident that both the buy and sell-side will be quick to recognize its unique value."