Singapore Exchange (SGX) has established an office in London to better serve its growing number of European-based customers.
Earlier this month, SGX announced that it would create data centres in London, Chicago, Tokyo and New York to reduce the cross-border connectivity costs of accessing the exchange’s products and services. The decision to build the hubs is part of a US$250 million investment in Reach, a new trading platform based on Nasdaq OMX’s Genium INET technology, which is capable of delivering roundtrip latency times of below 200 microseconds.
“SGX’s presence in London marks a strong commitment to our customers in meeting and responding to their needs. Building connectivity and enhancing market accessibility will strengthen our position as the market of choice for investors wanting to participate in Asia’s rapidly-growing economies, and for issuers seeking to access global capital markets,” said Magnus Bocker, Chief Executive Officer of SGX.
The London office will be headed by David Battle, SGX’s chief representative for Europe and North America. Battle was previously managing director of global futures and options solutions at Rolfe & Nolan and was also managing director with global responsibility for futures and money market sales at Deutsche Bank.