SGX to Monitor Market Makers with First Derivatives
The Singapore Exchange (SGX) has licensed Northern Ireland-based financial software provider First Derivatives’ Delta product suite, say vendor officials.
The exchange plans to use the vendor's platform for internal monitoring of the performance of its market-makers, says a First Derivatives spokesperson.
Neither the SGX nor First Derivatives has announced when the new system will go live.
However, according to First Derivatives officials, users do not need any particular type of hardware to run the platform that is based on software from database provider Kx Systems, of which First Derivatives owns a stake.
At the end of last year, SGX certified multi-asset electronic trading software provider Realtime Systems (RTS) and Fortis Clearing to offer their clients access to SGX's equity trading system. Firms using RTS trading solutions will be the first to access SGX via the high-speed, low-latency trading engine, say officials.
In addition, trading platform and connectivity provider Orc Software was set at that time to provide connectivity to the SGX's SGX-ST matching engine. The link between the trading platform and Orc's network will allow customers to trade all listed products across both exchanges' securities and derivative markets, officials added.
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