NYSE Technologies, the global commercial technology unit of market operator NYSE Euronext, says its pre-trade risk management service, Risk Management Gateway (RMG), is now live for trading members on the Singapore Exchange (SGX). Client flow is already live via SGX's co-location facility launched on 11 April.
RMG allows member-sponsored traders to directly access SGX's matching engines. RMG's real-time risk controls and detailed order management capabilities are customised for the sponsoring broker and complements any exchange-level risk checks. Traders will receive low-latency market data and order transmissions with full trade anonymity. The service will also be made available to firms trading on SGX from additional remote access points.
NYSE Technologies intends to launch RMG in other execution venues in Asia, including Tokyo and Hong Kong. With SGX's new Reach matching engine anticipated to be introduced on 15 August, NYSE Technologies' RMG service, combined with its support for SGX's low-latency feeds, should offer ultra-low latency market access.
“The focus on Asian markets moving towards more high-speed trading reflects interest from our existing client base,” said Peter Tierney, senior vice president at NYSE Technologies.
SGX has pushed ahead with its technology and operations modernisation programme, intended to increase liquidity levels on the exchange, following the failure of its bid to merge with the Australian Securities Exchange in April.
On 30 June it announced it would offer continuous trading from 09.00 to 17.00 from 1 August 2011.