Singapore Exchange (SGX) has announced plans to migrate to GENIUM, a high-speed trading platform provided by global exchange group Nasdaq OMX, from its existing QUEST-ST system – also supplied by Nasdaq OMX.
The two exchange groups have agreed to conduct a detailed study into SGX’s GENIUM migration process. According to Nasdaq OMX, the implementation of GENIUM will give SGX an ultra-low-latency trading platform with optimal performance.
“We have a successful and long-standing relationship with NASDAQ OMX and this agreement represents a natural extension of our partnership,” said Hsieh Fu Hua, CEO of SGX, in a statement. “Migration to GENIUM for our trading solution would result in SGX having ultra low latency and world leading performance. This will support our initiatives to attract more high velocity and algorithmic traders, while offering our existing customers the convenience of using the same electronic interface.”
GENIUM was originally developed by OMX before its merger with Nasdaq in May 2007.