Fortis Clearing Singapore, a clearing services provider, will become the first Singapore Exchange (SGX) clearing member to connect to the SGX Singtel Proximity Service from its launch in September.
Fortis said the agreement will allow its clients to benefit from “the quickest possible access” to SGX’s derivatives trading engines.
SGX announced a deal in May with Singapore Telecommunications Limited (SingTel) to provide proximity hosting services to the SGX market.
The service allows SGX members to locate their trading engines near to the SGX data centre, thus reducing latency. According to the SGX, this service makes it the first exchange in Asia to offer sub-millisecond access to its trading engines.
“This is a very exciting development for our service offering in the Asia Pacific region, and builds on our global strategy of offering a high quality clearing and market access service,” said Andrew Bennett, head of market access in Asia Pacific for Fortis Clearing, in a statement.