Singapore Exchange (SGX) has upgraded its derivatives market trading engine, Quest-DT. The improved platform will cater for increased demands from high-velocity traders.
It will also support new order types and enhanced options trading strategies, as well as paving the way for SGXClear, Singapore Exchange’s derivatives clearing system, which is scheduled to launch toward the end of 2009. The upgrade to Quest-DT follows the introduction of SGX’s Proximity Hosting Service which went live in May, offering faster access to the derivatives platform.
Gan Seow Ann, senior executive vice president and head of markets at SGX, said, “Together with our Proximity Hosting Service, the increased trading functionalities will allow us to better serve the demands of our customers. We will continue to build on our Asian Gateway strategy of providing a one-stop, pan-Asian equity derivatives product suite.”
SGX became the first Asian exchange to offer sub-millisecond access to its trading engines with the launch of proximity hosting, and in three months had reached its yearly target for subscriber numbers. SGX said proximity hosting enabled customers to access Quest-DT up to four times faster than previously.