âThis is a significant infrastructure implementation, which marks an important milestone in the development of a real straight-through processing environment for SGX,â said Muthukrishnan Ramaswami, senior executive vice president and chief operations officer, SGX. âSGX has successfully worked very closely with the CheckFree team as the size and scale of the implementation has required a strong partnership approach.â
Through the capabilities of the CheckFree TradeFlow Solution, SGX Prime can allow fast, efficient and effective transaction management across multiple instruments and transaction types. The CheckFree TradeFlow solution can deliver improved management control and transparency in post-trade processing in both the SGX and customer environments by accepting and distributing messages in several different formats and industry standards. The rule-based engine allows for the processing of a diverse range of transaction messages and business processes (e.g. central matching) to meet market requirements.
âFiservâs size, scale, global reach and range of complementary services made it the ideal partner for SGX to deliver on a complex exchange project,â said Michael Gianoni, president of CheckFree Investment Services, now part of Fiserv. âIn close cooperation with SGX, Fiserv has helped deliver an extremely flexible, automated and secure platform for efficient post-trade processing.â
SGX Prime provides 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 can allow brokers, depository agents and other market participants to engage in post-trade services, with a choice of connectivity options for clearing and depository systems. Market participants can connect directly through to SGX Prime to input settlement instructions for matching prior to settlement in the Singapore Exchange Central Depository.
CheckFree TradeFlow is designed to enable organizations to efficiently manage, monitor and measure the flow of securities and cash transactions across the enterprise and through counterparties and settlement agents, while minimizing operational risk and increasing operational efficiencies.