Singapore Exchange (SGX) is planning to launch two new systems on 27 April that will grant users faster access to its securities trading and market data services.
SGXAccess API, the new market access platform, will have a latency of 16 milliseconds for order acknowledgements – an improvement of more than 10 times over the existing SGXAccess FIX system, according to the exchange. It will continue to offer SGXAccess FIX alongside the new platform. SGXAccess API uses OMNet API, the native protocol of SGX’s Quest-ST securities trading engine.
SGX is also launching Securities Market Direct Feed for automated trading clients. Market data vendors will be able to connect directly to SGX’s trading engine to receive data on behalf of client at rates up to 60% faster than the exchange’s existing SecuritiesBook feed, SGX said. The new feed will also show the full list of transactions and market depth of orders in SGX’s trading engine.
“This new access platform and data feed will cater to the needs of all participants who want faster access to our securities market and data, including our growing community of algorithmic traders,” said Gan Seow Ann, senior executive vice president and head of markets at SGX, in a statement. “SGXAccess API will be offered at a more competitive pricing structure. This is part of our commitment to meeting the expectations of our customers.”
The new services are the latest from SGX designed to appeal to high-frequency traders. In May 2008, the exchange launched a proximity hosting service and upgraded its securities and derivatives trading engines in July and December respectively.
In March this year, SGX announced plans to migrate to exchange group Nasdaq OMX’s GENIUM trading platform from its existing Quest-ST system – also provided by Nasdaq OMX.