Singapore Exchange Selects Millennium PostTrade for Clearing Business
SGX Central Depository adopts MillenniumIT’s clearing, settlement and depository platform.
Millennium PostTrade is a real-time clearing, settlement and depository platform from MillenniumIT, London Stock Exchange's proprietary development business. Millennium PostTrade replaces SGX CDP's incumbent proprietary broker back office system, enabling CDP to adopt global market practices, real time straight-through processing and industry messaging standards (including FIXML and ISO 20022).
"With this implementation, our brokers' back-office systems have been enhanced from indirect to direct communication with SGX for all post-trade processing," says Nico Torchetti, SVP & head of market services at Singapore Exchange. "The ongoing transformation of SGX's post-trade environment will increasingly enable us to deliver greater levels of standardisation and efficiencies for our customers."
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