Source: London Stock Exchange
LSEG Technology has successfully implemented Settlement and Central Securities Depository functionality for Singapore Exchange (SGX).
In live operation from 10 December 2018, this was a whole market implementation, involving brokers, custodian banks, settlement banks, registrars and retail investors.
Built upon the same technical and hardware framework as the Clearing (Central Counterpart) module, implemented at SGX in early 2017, this functionality provides SGX with a fully integrated and complementary set of post trade solutions. This delivery enables SGX and the market participants to align to global market practices, messaging standardisation and the introduction of T+2 into the Singapore market,
Tinku Gupta, Executive Vice President, Head of Technology:
“SGX’s adoption of the new post trade system which LSEG Technology supported, provides for a more efficient and effective clearing, settlement and depository environment. We expect to build new and emerging services on this platform, thereby enabling SGX and our Members to enhance services for the market.”
Ann Neidenbach, CIO, LSEG Technology:
“LSEG Technology is delighted to have developed a close working relationship with SGX to successfully implement this complete end-to-end post-trade solution. This is a major milestone in which this industry solution is set to meet the broad and diverse needs of the post-trade community.Built upon a common infrastructure to support clearing, settlement and depository modules, LSEG Technology’s Millennium PostTrade solution, delivers true benefit for our customers by improving operational efficiency and reducing the total cost of ownership.”