Asian trading venue the Singapore Stock Exchange (SGX) has made US market-making firm GETCO Asia a trading member of its securities market. The admission of the firm brings the number of trading members on SGX's securities market to 28, following the addition of Cantor Fitzgerald in September, 2010.
GETCO, which trades on more than 50 markets in the Americas, Europe and Asia is already a registered market maker on US exchanges Nasdaq, NYSE Arca, and BATS Exchange, and has designated market maker status on European trading venue NYSE Euronext.
“GETCO's participation as a trading member, together with our product launches such as American Depositary Receipts, increases our value offering to customers as the Asian gateway,” said Rama Pillai, senior vice president and head, sales & distribution at SGX.
The latest addition comes at a busy time for the exchange. It has been building its presence in Europe for its listings business, as well as expanding its AsiaClear business with the launch of a new clearing service for OTC traded financial derivatives in September, 2010. SGX is also considering proposals to change its opening hours to eliminate the existing 90-minute lunch break .