âLowering costs and increasing value for market participants are the keys to the Singapore Exchange building an enduring marketplace in Asia,â said Daniel Tan, executive vice president and head of operations at Singapore Exchange. âWe selected the CheckFree TradeFlow solution to develop SGX Prime for our straight-through processing (STP) hub based on its proven technology and its ability to deliver improved management control and transparency in post-trade processing.â
SGX Prime is an open access hub that allows scalable, efficient and effective transaction management across a broad range of financial instruments and product segments. The integration of CheckFree TradeFlow into SGX Prime allows brokers, depository agents and other market participants to engage in post-trade services, with a choice of connectivity options for clearing and depository systems, including ISO 15022 messaging standards. Market participants can connect direct through to SGX Prime to input their settlement instructions for matching prior to settlement in the Singapore Exchange Central Depository.
âThe selection of CheckFree TradeFlow for this strategic implementation with the Singapore Exchange underscores its market position as the post-trade processing solution of choice. CheckFreeâs Applied Operational IntelligenceSM approach combined with our proven track record in building centralised processing hubs with other similar companies, along with our local commitment to the Asia-Pacific market, made CheckFree the logical partner for Singapore Exchange,â said Preston Hoffman, senior vice president and general manager of CheckFree Software.
CheckFreeâs Applied Operational Intelligence approach helps clients drive profitability and performance through a combination of innovative software, industry expertise and collaborative partnership. This approach is built on CheckFree's core competencies of reconciliation, exception management, transaction process management, corporate actions processing, payments processing, risk management and compliance. The Applied Operational Intelligence approach is expressly designed to manage risk and efficiency, while leveraging valuable 'operational intelligence' to achieve measurable return on investment.
CheckFree TradeFlow allows organisations to efficiently manage, monitor and measure the flow of securities and cash transactions across the enterprise and through counterparties and settlement agents, while minimising operational risk and increasing operational efficiencies.