SGX buys new data feed technology from OMX and Cicada

OMX and Singapore Exchange Limited (SGX) have signed an agreement to develop a new data feed system designed to enhance SGX's data dissemination services to market participants. The new data feed system is designed to enrich and package price data from multiple sources. With this system, SGX intends to be able to enable brokers and data vendors to provide comprehensive data to their customers.
By None

OMX and Singapore Exchange Limited (SGX) have signed an agreement to develop a new data feed system designed to enhance SGX’s data dissemination services to market participants.

The new data feed system is designed to enrich and package price data from multiple sources. With this system, SGX intends to be able to enable brokers and data vendors to provide comprehensive data to their customers.

This collaboration with OMX supports SGX’s continuing efforts to renew and refresh its IT infrastructure, says OMX, with the objective of raising overall efficiency and enhancing service quality to market participants.

“This initiative with OMX enables SGX to offer new value-added price data to meet the needs of our customers,” explains Chew Hong Gian, Head of Technology at SGX. “The new data feed system will also support future growth in price data traffic and improve transmission speed.”

Markus Gierden, president, market technology, at OMX, says the agreement strengthens OMX’s position in market data dissemination technology. “We look forward to continue working with SGX to further strengthen their position as a leader in service quality,” he says.

OMX will base the new solution on a market data system from Cicada and integrate it with SGX’s trading engine, SGX QUEST. The solution is customised to SGX requirements and will be implemented in 2007.

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