The Singapore Exchange (SGX) has reorganised its top tier of management and business operations to better manage its positioning as a gateway for firms that want to trade in the Asian region.
From 1 July, SGX will form ten business units and seven support units, which it says will provide a sharper focus on key products and customer segments. SGX’s risk management and regulation division will continue to operate unchanged.
To help support the reshuffle, Gan Seow Ann and Muthukrishnan Ramaswami, currently head of markets and COO at SGX respectively, will now be co-presidents, reporting to CEO Magnus Böcker. Their responsibilities will be to steer and grow the future development of the exchange.
Chew Sutat, currently head of development at the exchange, will assume the role of head of corporate and market strategy, as well as overseeing the securities business, also reporting directly to Böcker.
In recent months, SGX has committed to investing $250 million in a new Nasdaq OMX-supplied trading system and has plans to introduce co-location services in a bid to attract more high-frequency trading activity.
SGX also recently opened a London office to better serve its European clientele.