Singapore Exchange Limited (SGX) is pleased to introduce an innovative open-access hub, SGX Prime, for brokers, depository agents and other market participants to engage in post-trade services.
Scheduled for roll-out by end of 2006, SGX Prime serves as a centralised and flexible hub, offering a choice of connectivity options to SGX clearing and depository systems.
SGX Prime is part of SGX's ongoing efforts to upgrade its IT infrastructure and enhance its organisational agility. With ISO 15022 industry messaging standards, SGX Prime provides a "Straight-Through-Processing" environment from execution to settlement, thereby aligning Singapore with global financial markets in post trade processing.
"SGX Prime allows our market participants to reap benefits of improved operational efficiencies and reduced operational risks. We are pleased that our brokers and depository agents welcome the new initiative," said Mr Daniel Tan, Executive Vice-President and Head of Operations Group, SGX.