Up to $250 million is to be invested in new financial technology by Singapore Exchange (SGX) to create what the firm claims will be the fastest electronic platform available for traders.
The new Reach program will increase the speed at which investors are able to connect with opportunities within Asia and other investors across the world, the firm explained.
According to recent tests on the new technology system, SGX Reach will allow investors to carry trades in less than 90 seconds “door-to-door”.
The time is the fastest order response capability currently on offer within the market, SGX has claimed.
Magnus Bocker, chief executive officer at SGX, said: “We are the leader among exchanges in satisfying global appetite for Asian investment products.
“With Reach, Singapore will become even more accessible to greater numbers of investors including international traders seeking the next generation of growth opportunities. The investment also reaffirms SGX’s commitment to provide global reach for Asian issuers.”
A new data centre at the Keppel Digihub is expected to house the new technology for the facility.
Meanwhile, SGX announced trading figures for May, which showed that derivatives trading grew by 40 per cent when compared with statistics from the same month in 2009.
By Jim Ottewill